Deutsche Bahn CEO Rüdiger Grube has resigned following a dispute with the board over the terms of his new contract due to be extended soon, Deutsche Welle (DW) reports, quoting local media.
The DB’s CEO stepped down during a meeting of the German rail operator’s supervisory board, which had originally been scheduled to extend his contract.
Quoting sources who took part in the meeting, Grube’s decision came after the board had refused to grant him a three-year extension of his contract until 2020, German news agency DPA reported.
Negotiations for a second term with Grube at the helm of Germany’s state-owned railway enterprise have been dragging on for months, with media reports saying the CEO offered to accept a salary freeze in exchange for a longer contract. Grube was even said to have relinquished his right to claim compensation should his contract be terminated before it expires.
On 1 May 2009 Rüdiger Grube was appointed CEO and Chairman of the Management Board of Deutsche Bahn AG and on 1 January 2017 Member of the Management Board for Technology & Quality at the same time.
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