07
May
2013
|
17:30
Europe/Amsterdam

Shareholders approve all proposals of the Board of Directors

At today’s Annual General Meeting of Kuehne + Nagel International AG 84.37 per cent of voting shares were represented. All proposals were approved by clear majorities.

Looking back on the year 2012, which was marked by sovereign debt crises, political uncertainties and economic slowdown, Karl Gernandt, Chairman of Kuehne + Nagel International AG, said that the Kuehne + Nagel Group was able to sustain its position in a difficult world economic environment. Results, however, fell short of internal expectations.
 
Measures initiated now to focus on customer groups, cost reductions and with it profitability improvements have been implemented group wide and encourage optimism regarding a further positive development of the Kuehne + Nagel Group. In addition, the alignment of the regional structure accelerates the reaction time to new market situations and business opportunities while at the same time the lean management approach supports a faster communication of management decisions and thus efficiency increases. “It remains Kuehne + Nagel’s strong intention to be the most forward-looking company in the industry, always able to react more quickly to changing market conditions,” the Chairman said.

For the last time, Reinhard Lange, CEO of the Kuehne + Nagel Group, illustrated the performance of the business units. After a modest start in 2013, volume development gained momentum, he said. In April, Kuehne + Nagel increased volumes in seafreight by 7 per cent, in airfreight by 9 per cent.
Effective the Annual General Meeting, the Board of Directors of Kuehne + Nagel International AG accepted the request of Reinhard Lange to be released from his duties because of health reasons, as communicated on March 4, 2013. As Executive Chairman Karl Gernandt will take over CEO responsibility until further notice.

All proposals approved
The shareholders approved the annual report, the financial statements and the consolidated financial statements for 2012 and followed the Board of Directors’ recommendation to a dividend of CHF 3.50 per share. Payout is scheduled as on May 14, 2013.
 
The Annual General Meeting granted discharge to the Board of Directors and the Management Board for the 2012 business year.


Re-elections to the Board of Directors
Dr. Renato Fassbind, Juergen Fitschen, Karl Gernandt, Klaus-Michael Kuehne, Hans Lerch, Dr. Thomas Staehelin, Dr. Joerg Wolle and Bernd Wrede were re-elected to the Board of Directors for one-year terms.

Statutory Auditor
Ernst & Young AG, Zurich, was newly elected as the statutory and Group auditor for the business year 2013.

 
The next Annual General Meeting will be held on May 6, 2014.