German logistics giant Deutsche Post World Net CEO Klaus Zumwinkel has resigned in the face of tax evasion charges that he secreted EUR1 million (US$1.4 million) of taxable income into a Liechtenstein bank account.
DPWN executive committee of the supervisory board of Deutsche Post AG, the DHL parent company, issued a statement that they had received Mr Zumwinkel's resignation as chairman of the board of management of Deutsche Post AG and as chairman of the supervisory board of Deutsche Postbank AGMr Zumwinkel, CEO of Deutsche Post since 1990, experienced dawn police raids on his home and office. He was taken in for questioning at the state prosecutor's office in Bochum before being bailed. The UK's Transport Intelligence agency said there is widespread belief that Mr Zumwinkel's tenure would have been be shortened in any case because of an expected restructuring to address DPWN's ailing US DHL express operation and press on with the sale of Postbank.
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