Originally Posted by
TRAVELSIG
Unfortunately, the small summaries written by travelsig often do not really match the essence of the quoted article:
Earlier this week, he misquoted Franz, who did not confirm the A380 to India, however stated that there plans to use the bird and that it is 'likely' that LH makes it for the winter schedule.
This summary is more acurate, however leaves out an important point as well, evidenced by the last paragraph of the article:
"As investors we have the impression that Carsten Spohr is the right man for the top job," Gerbhardt told the paper. DWS is Germany's largest retail fund manager.
This quote by a fond manager at DWS is actually correct, the market expects Spohr to be named the new CEO. According to a lot of sources within the industry, though, also made public by an affiliate of the Spiegel some weeks ago, there is some tension at LH between the Wolf & Weber, among other things, resulting in the delay.
As pointed out before, the Wolf did not really appreciate some people within LH not wanting him as the successor of Weber, not so much ten years ago, more so on the board last year. Obviously, and I am a little surprised here, the very friendly Austrian is a bit more resentful than estimated. Some people obviously still thought that he was too kind to the employees and frequent flyers.
Still the main point for me; giving Spohr the job means they need to find someone to do his current job and given his great work, this is not easy.
If you are at the top of the industry, the pool of people who can do the job various jobs becomes smaller and smaller. LH realized that they had to increase the salaries some years ago and I strongly suggest taking a look at various management levels now as well. Money was not the only issue for Franz (his family still lives an hour away from Basel), but a 250-300% increase makes every good CEO consider his loyalty, not much difference in the lower management categories.