In its meeting today (Thursday, March 14), Fraport AG’s supervisory board appointed Dr. Pierre Dominique Prümm to the company’s executive board, effective July 2019. Prümm will take over board responsibility for Fraport’s “Airside and Terminal Management, Corporate Safety and Security” strategic business unit and the “Corporate Infrastructure Management” service unit.
Fraport AG’s supervisory board chairman Karlheinz Weimar welcomed the addition of Dr. Prümm to the executive board: “The global aviation industry will continue to undergo profound changes in the coming years. This will also bring multiple and significant challenges to Fraport AG as well as other industry players. Therefore, it is essential that we expand and strengthen our company’s executive board to meet the growing challenges and responsibilities.”
Weimar also referred to the construction of Frankfurt Airport’s new Terminal 3, which is now fully underway, pointing out that “this project will entail strong changes in the existing traffic and terminal utilization structures. This means that we will not only have to optimally market the new Terminal 3, we will also have to redesign and upgrade our existing terminals – and we will have to do this while serving more passengers than ever before and while maintaining during regular operations.”
Therefore, the allocation of Prümm’s respective board responsibilities is a logical consequence of the challenges ahead, explained Weimar: “We need to align the management of our construction measures even closer to the demands and requirements of the market and our customers. We are confident that Dr. Prümm has the right expertise and know-how for this significant task.”
The Fraport Group is committed to further growth, both at its Frankfurt Airport home base and internationally. In the long and medium term, the Group intends to grow the share of revenue gained from its worldwide activities to 50 percent. Weimar added: “Our international activities, which remain under the responsibility of CEO Dr. Schulte, will play an increasingly important role for Fraport’s business.” In addition to the “Global Investment and Management” unit, Schulte’s board responsibilities will continue to include the “Airport Expansion South” unit, as well as the “Corporate Development, Environment and Sustainability” and “Corporate Communications” units.
Because digital transformation has become a decisive factor in all business segments, expertise in this area will be bundled in a new “Digitization and Innovation Management” department. The new organizational unit will be under the responsibility of executive board member Anke Giesen, who will also serve as Fraport’s Executive Director Retail & Real Estate. Giesen will continue to have board responsibility for Fraport’s “Retail and Properties” unit, as well as the “HR Top Executives” and “Legal Affairs and Compliance” units. Furthermore, the “Information and Telecommunications” unit has been newly assigned to her.
Executive board member Michael Müller, who is also Fraport’s Executive Director Labor Relations, will be assigned board responsibility for the new “Cargo and Logistics Management” unit. Three other units continue reporting directly to Müller: “Ground Services”, “Human Resources” and “Internal Auditing”.
Fraport’s Executive Director Controlling and Finance (CFO), Dr. Matthias Zieschang, will have board responsibilities for the following units: “Integrated Facility Management”, “Central Purchasing and Construction Contracts”, “Controlling”, “Finance and Investor Relations”, and “Accounting”.
Alexander Laukenmann will assume Dr. Prümm’s responsibilities as Senior Executive Vice President of the “Airside and Terminal Management, Corporate Safety and Security” unit. Previously holding the position of General Manager at Hamburg Airport, Laukenmann is returning to Fraport AG and Frankfurt Airport, where he was employed in various positions from 2000 to 2016.
Supervisory board chairman Karlheinz Weimar concluded: “I am convinced that Fraport’s new executive team is excellently prepared to meet the challenges facing us in the future. The entire supervisory board wishes the executive board and the company’s management team success in ensuring a prosperous future for the Fraport Group and its employees.”
A short biography of Dr. Pierre Dominique Prümm
Dr. Pierre Dominique Prümm, who is 45, joined Fraport on June 1, 2006, as head of the “Corporate Strategy” division within the former “Marketing, Corporate Strategy and Committees” department. On January 1, 2007, this function was integrated into the new “Corporate Strategy” unit, reporting directly to Fraport’s executive board chairman.
Following a major reshuffle of the company’s executive structure on October 1, 2010, the “Corporate Strategy” unit became part of the new “Corporate Development” unit headed by Prümm as Senior Vice President. On October 1, 2012, Prümm became Senior Executive Vice President of the “Airside and Terminal Operations, Corporate Safety and Security” unit, before advancing to the position of Fraport AG’s General Manager Aviation on April 1, 2018.
Prümm holds a Doctorate in Economics, as well as university degrees in business administration and political sciences. Before joining Fraport AG, he was a member of the managing board of Flughafen Hannover-Langenhangen GmbH, the company that runs Hanover Airport. Prior to this, Prümm held managerial positions at Start Amadeus GmbH and Kienbaum Management Consultants GmbH.