Kahn to take over as Bayern CEO retires early

MUNICH, June 1: Bayern Munich chief executive officer Karl-Heinz Rummenigge is retiring from the club six months earlier than expected, and will be replaced by former goalkeeping great Oliver Kahn. Rummenigge made the request to step down from his position on June 30, and not Dec. 31 as originally planned, Bayern said in a statement on Tuesday. “It is the most strategically sensible and logical time,” the 65-year-old Rummenigge said. “We’re coming to the end of the financial year, and at the same time a new phase is beginning with a new coaching team. The new season should be the responsibility of Oliver Kahn as the new CEO right from the start.” Rummenigge will continue to have a say in European soccer for the next three years. He retains his seat on UEFA’s executive committee which he took in April. Rummenigge became vice-president of the club in 1991. Since becoming CEO in 2002, Rummenigge has helped the Bavarian club increase turnover from 176 million euros ($215 million) to 679 million euros ($830 million). (AP)