Armin Rabe, Vice President and Chief Operating Officer of ZDF Enterprises, is to retire on 30th June 2007. This was announced today by Alexander Coridass, the company's President and CEO: "Armin Rabe has made a major contribution to the successful development of ZDF Enterprises. His personal style and entrepreneurial personality have influenced the company sustainably. At the same time he has always been acknowledged for his fair and compensating manners."

Armin Rabe started working for ZDF in 1979 and moved to ZDF Enterprises when it was founded in 1993. Initially, he was authorized representative of ZDF Enterprises and Head of the Finance, Law and Personnel Department. From 1996 to 2003, he was also Co-Managing Director of various subsidiaries. Armin Rabe was appointed Vice President and Chief Operating Officer of ZDF Enterprises in 2001. His position gave him responsibility of issues relating to finance, human resources, legal questions and management of subsidiary and associated enterprises.

Armin Rabe's successor is Stephan Adrian, who began his professional career with the Hessian Finance Authorities in 1983, after completing his studies of Law in Frankfurt am Main. In July 1988, Stephan Adrian joined the ZDF Department of Tax, Insurance and Social Insurance as a consultant. On 1st January 1993, he was appointed head of that department.

Professor Markus Schaechter, Director-General of ZDF: "After many years of brilliant work for ZDF, Armin Rabe was able to employ his many talents to the optimum for the following 15 years with our subsidiary ZDF Enterprises and its associates. We thank him for everything he has achieved and wish him the very best of luck as he embarks on the next stage of his life. Stephan Adrian is an experienced and innovative successor who will no doubt apply his abilities with equal success in the service of the ZDF family of companies."