Lufthansa has release a statement stating that current Lufthansa Group CEO Christoph Franz has informed the Supervisory Board (similar to Board of Directors) that he will not seek to extend his contract beyond it’s current expiration in May of 2014.   Based on the press release it appears that Franz will stay with the airline through the end of the contract and aide in the transition to the next CEO.   Current Lufthansa Airlines head Carsten Spohr is thought to be the favorite to succeed Franz.

Reuters has confirmed that he has accepted an offer to become CEO of Swiss pharmaceutical giant Roche.  His appointment as CEO of Roche will be contingent upon a vote by Roche shareholders on March 4, 2014.