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Board of Deutsche Post picks Appel as new chairman

The supervisory board of Deutsche Post AG on Monday picked Frank Appel to lead the mail and global logistics company after his predecessor resigned last week amid a growing tax evasion investigation that has gripped Germany.

The board said it unanimously appointed the 46-year-old to replace Zumwinkel, and that his contract would run through Oct. 31, 2012. Appel's appointment is immediate.

Zumwinkel's contact was set to end in November.

Appel has been a member of the company's management board since 2002 and had overseen the company's logistics and international mail business.

The company also agreed to extend the contract of chief financial officer John Allan, who had also been a likely contender for the top job, by two years until 2010.

Zumwinkel's home was raided on Thursday by police and tax investigators, with television cameras in tow, and prosecutors said he was suspected of evading more than 1 million euros (US$1.5 million) in taxes through investments in Liechtenstein -- allegations that came as part of a probe of suspected tax evaders.

More raids were conducted across the country yesterday ahead a visit by Prime Minister Otmar Hasler of Liechtenstein.

Meanwhile, Crown Prince Alois accused Germany yesterday of launching an attack on the Liechtenstein's sovereignty by paying an informer for bank details in the tax fraud probe.

"Germany has clearly failed to understand how one behaves towards a friendly state. We are a small country and we want good relations with our neighbours but we are also a sovereign state," the prince told a press conference aired on German television.

"Germany will not solve its problems with its tax payers by attacking Liechtenstein. Germany has the worst tax system in the world," he said.
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