Richard Lutz Departs Deutsche Bahn Amid Infrastructure Challenges

Richard Lutz is leaving his role as CEO of Deutsche Bahn, Germany's leading rail operator, company and government sources revealed on Thursday. His departure comes as the company grapples with infrastructure issues resulting from years of under-investment.

These longstanding financial constraints have left Deutsche Bahn with outdated systems, causing frequent disruptions and train delays. Lutz, who served as CEO since March 2017, recognized the need for significant improvements and reforms within the state-owned company.

While Deutsche Bahn has started to upgrade tracks and systems, the early stages of this process are expected to cause further delays. Despite posting significant losses for 2024, the company aims to return to profitability with strategic cost-cutting and infrastructure investments.

(With inputs from agencies.)