UPDATE 1-Deutsche Post CFO to step down in June

* Deutsche Post CFO leaving of his own volition

* Allan to act as advisor to CEO after resignation

* Shares indicated down 0.8 percent

(Adds details, background)

FRANKFURT, Jan 2 (Reuters) - Deutsche Post's (DPWGn.DE) Chief Financial Officer John Allan plans to step down from his post at the end of June, the company said on Friday.

Europe's biggest postal company said Allan was leaving "of his own volition" and would act as a senior advisor to Chief Executive Frank Appel after he left the board.

A successor would be named in due course, it said.

Deutsche Post's shares were indicated to open 0.8 percent lower at 0740 GMT.

Allan joined Deutsche Post's management board in 2006, when Deutsche Post bought UK contract logistics firm Exel, which he had led, and was named Chief Financial Officer in 2007.

He pledged to improve the performance of the company's U.S. business and two months ago led a push to exit the loss-making DHL express business in the United States.

Deutsche Post is cutting a total 14,900 jobs in the United States to shrink its exposure to the market there and curb about $1 billion of annual losses from its DHL express business.

Deutsche Post's stock trades at about 11.8 percent of its estimated 2009 earnings, at a discount to U.S. peers FedEx (FDX.N) and United Parcel Service (UPS.N).

Allan also played a role in the company's move to sell Deutsche Postbank (DPBGn.DE) to Deutsche Bank (DBKGn.DE) for up to $13 billion to exit the German banking industry at a time when financial companies are suffering from effects of the global financial market crisis. (Reporting by Maria Sheahan; Editing by Hans Peters)