Deutsche Bahn CEO Resigns Amid Infrastructure Challenges
Richard Lutz, CEO of Deutsche Bahn, will leave his position amid challenges like under-investment and public frustration. He will remain until a successor is found, as the company works on infrastructure upgrades. The German government is investing significantly to modernize the country's rail infrastructure.
Germany's transport ministry announced Thursday that Richard Lutz, CEO of Deutsche Bahn, will depart from his role. Lutz's leadership has seen the state-owned rail operator face challenges such as under-investment and public dissatisfaction.
Lutz, who has been with Deutsche Bahn since March 2017, will remain until a replacement is secured. The company has garnered international criticism, particularly during events like the Euro soccer tournament and Taylor Swift's tour, for its delayed and overcrowded trains.
Efforts to modernize the rail system are underway, though this temporarily increases delays and cancellations. The German government has pledged substantial funding, including a 500-billion-euro fund, to revamp the nation's infrastructure.
(With inputs from agencies.)
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