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Deutsche Post boss offers to quit Deutsche Post boss offers to quit
(about 1 hour later)
Deutsche Post boss Klaus Zumwinkel, who is under investigation for tax evasion, has offered to quit.Deutsche Post boss Klaus Zumwinkel, who is under investigation for tax evasion, has offered to quit.
The offer will be considered by the Deutsche Post board on Monday, but the German government backed the decision.The offer will be considered by the Deutsche Post board on Monday, but the German government backed the decision.
Earlier, Peer Steinbrueck, the German Finance Minister, said the scandal had caused "considerable moral damage". Earlier, Peer Steinbrueck, the German Finance Minister, said the scandal had damaged public morale.
Mr Zumwinkel was quizzed by police and his home and office were raided on Thursday. He has not yet made a public statement about the allegations. The inquiry comes amid a government crackdown on wealthy businessman using offshore bank accounts in Lichtenstein to avoid paying taxes.
Prosecutors said he was suspected of not paying 1m euros (£750,000; $1.4m) in taxes using banks in Lichtenstein. The German government is a major shareholder in Deutsche Post, which also owns global delivery firm DHL.
John Allan, the British finance director at Deutsche Post, which also owns global delivery firm DHL, was being tipped by some analysts as a likely successor. A government spokesman said: "The federal government welcomes the decision that's been offered."
A spokesman for the Finance Ministry added that the government would make a "recommendation" that Mr Zumwinkel step down at a full board meeting on Monday.
Suspicions
On Thursday, the Deutsche Post boss was quizzed by police and his home and office were raided.
Prosecutors say that it is suspected he avoided paying 1m euros (£750,000; $1.4m) in taxes using banks in Lichtenstein.
He has not yet made a public statement about the allegations.
John Allan, the British finance director at Deutsche Post, has been tipped by some analysts as a likely successor.
Reputation souredReputation soured
Mr Zumwinkel, 63, is one of Germany's most influential business figures, credited with transforming the postal service into a logistics giant, as well as developing its retail banking arm, Postbank. He has been chief executive of Deutsche Post for 18 years.Mr Zumwinkel, 63, is one of Germany's most influential business figures, credited with transforming the postal service into a logistics giant, as well as developing its retail banking arm, Postbank. He has been chief executive of Deutsche Post for 18 years.
He is one of the longest-serving chief executives of a German blue chip company and also heads the supervisory board of Deutsche Telekom.He is one of the longest-serving chief executives of a German blue chip company and also heads the supervisory board of Deutsche Telekom.
But he is no stranger to controversy.But he is no stranger to controversy.
He sold about 5m euros worth of shares after the introduction of the minimum wage for postal workers - which he fought for - boosted the company's share price.He sold about 5m euros worth of shares after the introduction of the minimum wage for postal workers - which he fought for - boosted the company's share price.
German Finance Minister Peer Steinbrueck said: "If the public has something like this as a role model then they'll start having doubts about this economic and social system. I didn't think this was possible."