Lufthansa shares fall: Lufthansa's shares experienced a 3.6 per cent decline at 08:33 GMT on Friday following the airline's announcement of a significant board reshuffle, where it revealed plans to reduce two-thirds of its board members by the middle of the year. 

The board, currently consisting of six members, will be downsized to five, with Chief Financial Officer (CFO) Remco Steenbergen being among those departing, as per the company's announcement on Thursday. 

Chief Executive Officer (CEO) Carsten Spohr will retain his position.

Investors, particularly at JP Morgan, are closely observing Steenbergen's exit, stressing his favourable standing among investors due to his respected and well-liked reputation. 

However, Stifel noted in a trader's memo that the news wasn't entirely unexpected, especially after the parent company opted against pursuing the sale of a minority stake in Lufthansa Technik. 

The decision was perceived as a setback to Steenbergen's influence and authority within the company.

(With Reuters Inputs)