Klaus-Michael Kuehne Announces Personal Succession Plan
As of October 1, 2008, Klaus-Michael Kuehne will delegate important functions within his scope of responsibilities to Karl Gernandt. Gernandt will become Board Member of the Kuehne Foundation, Schindellegi. At the same time he will become Managing Director of the newly planned “Klaus-Michael Kuehne Foundation”, in which all Kuehne’s sponsorships in his hometown of Hamburg will be bundled. Furthermore, Gernandt will be appointed President of the “Logistics Center of Excellence GmbH”, a new Hamburg based company, which will coordinate all the donator’s activities in worldwide logistics research and education. Gernandt will maintain offices in Hamburg / Germany and Schindellegi / Switzerland.
As delegate of the Board of Directors of Kühne Holding AG, Gernandt will represent the interests of the majority shareholder in the Kuehne + Nagel International AG. For this purpose, Kuehne will propose Gernandt’s election to the Board of Directors of Kuehne + Nagel International AG. His appointment will be subject to shareholders’ approval at the Annual General Meeting in May 2009. As Kuehne plans to step down from his post as delegate of the Board of Directors of Kuehne + Nagel International AG, he will recommend Gernandt as his successor in this function.
Following his studies at the University of St. Gallen, Karl Gernandt (48) worked for Deutsche Bank AG until 1995. From 1996 to 1999 he held management positions at A.T. Kearney Management Consulting. In 2000 Gernandt was appointed CEO of Holcim (Deutschland) AG, Hamburg. Since 2007 he has been CEO of the Holcim Western Europe Organisation, based in Brussels.
Klaus-Michael Kuehne commented on his decision as follows: “The Kuehne + Nagel Group is well positioned among the leading global logistics providers and has maintained a remarkable course of success. At the age of 71, I have decided to pass many of my responsibilities into younger hands and I am fortunate to have found a person to whom I will entrust a significant part of my life’s work. I am confident that Mr. Gernandt’s proven leadership and advanced management capabilities will support my objective to sustain the continued growth, stability and independence of the Kuehne + Nagel Group. Furthermore, it is my intention to expand the field of interest of the Kuehne Holding AG and to initiate new entrepreneurial engagements. As the Kuehne Foundation will someday inherit my shareholding in Kuehne + Nagel, the Board of the Foundation will be enlarged and rejuvenated with top management talent. I will remain President of the Board of the Kuehne Foundation and Chairman of the Board of Directors of Kuehne + Nagel International AG. In close cooperation with Mr. Gernandt, I will continue to foster Kuehne + Nagel’s leading position in the global logistics industry – which is of heartfelt importance to me – through my experience and entrepreneurial contributions.”