The German Federal Minister for Transport, Patrick Schnieder, has announced the selection of a new Chief Executive Officer for Deutsche Bahn, though a formal presentation may be delayed due to legal considerations. Schnieder intends to unveil his highly anticipated new strategy for the national railway company at a press conference on Monday, with the expectation of simultaneously introducing the new CEO. However, the timing of this joint announcement remains subject to change.
Minister Schnieder previously emphasized that the primary requirement for the CEO position was the candidate’s ability and willingness to implement the outlined strategic direction. The incoming CEO will be facing an immediate challenge, as Schnieder has indicated he will not assume responsibility for the substantial cost overruns associated with the Stuttgart 21 project.
According to previous rulings, Deutsche Bahn is obligated to cover these escalating costs, a burden amplified by the company’s full ownership by the federal government. Schnieder stated that existing contractual agreements clearly define the federal government’s financial commitment and emphasized the government’s commitment to honoring those arrangements. He specifically ruled out entering into new agreements that would require exceeding the pre-established financial obligations, particularly for projects not directly under the government’s purview.