Dr Schulte, who has led Fraport since September 2009, has been given an early renewal on his contract to ensure continuity, said Karlheinz Weimar, chairman of the supervisory board.
“We are pleased that in the coming years Dr Schulte will be able to continue – with his tremendous experience and expertise – his successful work as executive board chairman [CEO],” he said.
“Under Schulte's leadership, Frankfurt-based Fraport has further developed into one of the most influential airport managers worldwide."
Before taking his current role, Dr Schulte served from 2007 as vice chairman of Fraport’s executive board.
From 2003, he held the position of executive board member responsible for finance (CFO).
Born in Wuppertal in Germany, Schulte studied banking and economics.
He moved to Fraport from a position on the board of Deutz AG, a Cologne-based engine manufacturer, where he was responsible for finance and human resources.