10
May
2011
|
17:43
Europe/Amsterdam

Klaus-Michael Kuehne assigns Chairman function to Karl Gernandt

Following Klaus-Michael Kuehne’s recommendation to the Board of Directors, Karl Gernandt was elected Chairman in a meeting taking place today after the General Assembly. With Gernandt’s appointment Kuehne continues the implementation of his personal succession plan.

Already in the year 2008, Kuehne announced Gernandt as his successor in important functions within his scope of responsibilities to which belong the Kuehne Holding AG, majority shareholder of Kuehne + Nagel International AG, and the Kuehne Foundation.

Klaus-Michael Kuehne said: “The Kuehne + Nagel Group is well positioned among the leading global logistics providers, has maintained a remarkable course of success and strives for sustained growth. Based on this, I have decided to pass further responsibilities into younger hands. I am convinced that Mr. Gernandt as my successor in the function as Chairman will ensure stability and continuity, fostering the company’s further development. As majority shareholder and member of the Board of Directors my dedication to the Kuehne + Nagel Group remains unchanged and I will continue to support expanding its leading position in the global logistics industry.”

The Board of Directors named Klaus-Michael Kuehne Honorary Chairman  of Kuehne + Nagel International AG. He will remain member of the Board of Directors’ Nomination and Compensation Committee, but handed over the chairman function to Dr. Joerg Wolle.

In addition, Kuehne + Nagel announced today, that due to personal reasons, Peter Ulber, member of the Management Board, will not extend his contract at the end of the year. The Board of Directors is confident to fill the position internally within a short period of time.