Fraport named Stefan Schulte, deputy chief executive, to replace CEO Wilhelm Bender from September 1, the company said on Friday.

Bender has been expected to retire this year following his 65th birthday this coming August, and Fraport said he would at that point leave the company.

Schulte has been overseeing an expansion of Frankfurt airport that will increase the facility's capacity for flight movements to 126 per hour from 82 per hour now.

48 year-old Schulte has been on Fraport's management board since April 2003. He was chief financial officer for four years and was appointed as deputy CEO two years ago.

Fraport also said on Friday it appointed Peter Schmitz to its management board to oversee the company's ground operations.

Capacity bottlenecks at Frankfurt airport are expected to limit Fraport's growth prospects until it can take a planned new landing strip into service in 2011.