Release Date:
Release ID: 5002


Luxembourg, 11 November 2010 – Cargolux appoints Frank Reimen President and CEO. Mr. Reimen is currently First Government Adviser in charge of the general coordination of the department of Transport at the Luxembourg Ministry of Sustainable Development and Infrastructure. Simultaneously, Ulrich Ogiermann becomes Special Advisor.

The decision to step down as CEO has jointly been reached by the Board of Directors of Cargolux and Ulrich Ogiermann. It is related to Mr. Ogiermann’s indictment by a US court for alleged anti-trust violations. Mr. Ogiermann will now have more time to prepare his defence while Cargolux can continue to benefit from his knowledge and expertise. The preparation of Mr. Ogiermann’s legal defence will absorb time and energy and is not reconcilable with an effective day-to-day management of the Company under trading conditions that will be challenging.

“Frank Reimen has outstanding management and leadership qualities”, says Marc Hoffmann, Chairman of the Board. “He has years of experience and in-depth knowledge of the aviation sector in general and the air cargo industry in specific. As a director of the Cargolux Board, he has actively participated in decisions of high importance related to Cargolux, especially during the difficult business environment in 2009” adds Mr. Marc Hoffmann.

Frank Reimen will take office on 1 January 2011. David Arendt, Executive Vice President and CFO, will act as interim CEO.

Cargolux, based in Luxembourg, is Europe’s largest all-cargo airline, operating a modern fleet of B747-400 freighters; another B747-400F is leased to Cargolux Italia. Its worldwide network coves 90 destinations, 60 of which are served on scheduled all-cargo flights. The company has more than 85 offices in over 50 countries, and also offers an extensive trucking network to more than 70 destinations in Europe and the US, as well as charter and aircraft maintenance services. Cargolux employs more than 1400 staff worldwide.
59 Piccadilly Manchester M1 2AQ
Telephone: +44 (0)161 408 0542
Fax: +44 (0)870 432 1732

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