BERLIN (Reuters) - Lufthansa (DE:LHAG) on Friday named Ulrik Svensson, chief executive of Swedish industrial investment company Melker Schorling AB (ST:MELK) as its new chief financial officer, to replace Simone Menne, who resigned earlier this month.
Prior to his present position, Svensson served as managing director for finance and CFO of Swiss International Air Lines from 2003 to 2006 where he supported the company's turnaround and acquisition by Lufthansa.
"Ulrik Svensson is an acknowledged financial expert who can draw on years of experience with the international capital markets," Chief Executive Carsten Spohr said in a statement.
Menne, well respected by analysts, announced her surprise departure earlier this month, to take up the CFO role at German pharmaceutical group Boehringer Ingelheim.
The change in CFO comes at a crucial time for Lufthansa, which is trying to cut costs to better compete with rivals.
On Thursday after almost three years of dispute, Germany's largest carrier and its main cabin crew union agreed a wide-ranging deal on pay and conditions thanks to a mediator.
Svensson will take up his new role on Jan. 1, 2017 with a contract valid until Dec. 31, 2019. Spohr will take responsibility for financial matters in the interim period between Aug. 31, when Menne is due to leave, and January, Lufthansa said.