Franz to succeed Mayrhuber as Lufthansa's CEO

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Lufthansa has announced that Christoph Franz will succeed Wolfgang Mayrhuber as the German carrier's group chairman and chief executive.

Franz, who is currently Lufthansa's deputy chairman, will assume his new role on 1 January.

Lufthansa also revealed today that the head of its cargo unit, Carsten Spohr, will be promoted to head up its German airline division.

Spohr will be replaced at Lufthansa Cargo by Karl Ulrich Garnadt, who is currently responsible for hub management and passenger services. These two changes will also take effect on 1 January.

Mayrhuber has been at the helm of Lufthansa for almost eight years.