New co-chief executive of Borussia Dortmund Hans-Joachim Watzke adresses a news conference in Dortmund February 15, 2005. The indebted club's treasurer Watzke will now also become co-head along with Michael Meier, who serves as current co-chief executive officer, Germany's only listed soccer club said. Borussia is grappling with record losses and debts and has announced cuts for players and staff. Its long-serving Chief Executive Gerd Niebaum abruptly quit last week following criticism alleging that he was unable to return the club to profit. REUTERS/Ina Fassbender INA/JOH