Shareholders of Deutsche Post AG approved on Tuesday the spin-off of its mail and parcel business into a division. More than 180,000 employees will change employers. CEO Tobias Meyer highlighted increased transparency and flexibility.
In Bonn, the annual general meeting of Deutsche Post AG approved the corporate restructuring on Tuesday. The core mail and parcel delivery business, with roots over 500 years old, will be spun off as a subordinate division. The separation was notarized in March.
CEO Tobias Meyer explained: "This aligns the legal structure with how we have operated the company for years." He promised greater transparency and flexibility. Following privatization and the 2000 stock market listing, the group expanded via acquisitions of Danzas, DHL, and Exel.
More than 180,000 German delivery workers will switch employers. The company offers a transfer of operations. "This creates no disadvantages for employees," Meyer stated at the meeting. "Civil servants will continue to be employed unchanged."