The Supervisory Board of Deutsche Lufthansa AG has officially appointed Till Streichert as the new Chief Financial Officer (CFO) of the company. Streichert, currently serving as the CFO of the Amadeus IT Group, is scheduled to assume his new role on September 15, 2024, for a three-year term.
Streichert will succeed the Finance Division responsibilities, inclusive of Controlling & Risk Management, Corporate Finance, Corporate Accounting, Investor Relations, Corporate Taxes, Financial Services, and Mergers & Acquisitions. Executive Board member Michael Niggemann has been temporarily managing the CFO position since the departure of Remco Steenbergen.
Karl-Ludwig Kley, Chairman of the Supervisory Board of Deutsche Lufthansa AG, has expressed confidence in Streichert’s appointment, citing his widespread financial expertise and international experience. Streichert has held executive and financial management positions at various global companies, including T-Mobile, the Boston Consulting Group, Vodafone, and Vodacom.
Till Streichert’s commendable educational background includes a doctorate in philosophy, a master’s degree in political sciences & philosophy, and successful completion of the Executive Program at Singularity University. Carsten Spohr, Chairman of the Executive Board & CEO of Deutsche Lufthansa AG, has warmly welcomed Streichert’s addition to the leadership team, noting his extensive expertise and experience.
Despite recent challenges impacting the company’s earnings, Lufthansa remains optimistic about the future. The first-quarter results showed a 5 percent increase in group revenue, but strikes and other factors led to an Adjusted EBIT loss of EUR 849 million. Nevertheless, the company has demonstrated commitment to its employees, evident through the agreement on a long-term collective pay agreement for cabin crew and the introduction of an innovative part-time program for IT and finance professionals.
The appointment of Till Streichert as the new CFO signifies a strategic move for Deutsche Lufthansa AG, demonstrating their intention to navigate the challenges of the competitive global aviation industry effectively. With his wealth of experience and expertise, Streichert is expected to play a crucial role in the company’s financial leadership, as they persist in adapting and evolving in response to changing market conditions and operational demands.