CEO News: Deutche Post's Zumwinkel to Step Down; Shaper Image Names New Chief

Klaus Zumwinkel, CEO of Deutsche Post AG, has told the company’s board that he intends to resign from both his roles as chairman of the board of management of Deutsche Post and chairman of the supervisory board of Deutsche Postbank AG.

The company’s executive committee has said it respects Zumwinkel’s decision and proposes that the supervisory board accept the decision as well.

Zumwinkel’s resignation comes amid investigations into possible tax evasion, as prosecutors have said they suspect he invested in a Liechtenstein foundation to avoid paying about $1.5 million in taxes, reports the Wall Street Journal. Zumwinkel was detained Thursday and questioned as a suspect in a tax-evasion probe, and he was released after giving a statement and putting up a security deposit.

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Robert Conway, a founding member of Conway, Del Genio, Gries & Co., has been named the new CEO of Sharper image, replacing Steven Lightman. Jerry W. Levin will remain serving as chairman.

Conway brings with him more than 25 years experience advising companies on financial and operational issues as a banker, consultant and senior executive officer.