CEVA Logistics CEO Pattullo retires, chairman Schlanger to take over
NETHERLANDS-based CEVA Logistics has announced the retirement of its CEO John Pattullo, who will remain on the board, and is to be replaced by company chairman Marvin Schlanger.
Said Mr Schlanger: "When John came to CEVA, he expressed his expectation of staying five years. Under his leadership, the integration of TNT Logistics and EGL was successfully executed and the end to end operating model developed.
"All this allowed CEVA to serve customers better and to grow faster than the market. We thank John for his strong leadership, and look forward to his continued guidance as a member of our board," Mr Schlanger.
Mr Pattullo took the reins at CEVA five years ago following Apollo's buyout of the former Eagle Global Logistics, which was combined with its previous acquisition of TNT Logistics to form CEVA.
During his tenure, CEVA became the sixth largest outsourced logistics provider in the world, based on revenue, which came to US$9.6 billion in 2011. CEVA is the 10th largest ocean forwarder by some estimates and its recent deal to manage ocean freight for Heinz Co could soon take it to seventh or eighth place in the ocean rankings.
The company is rapidly growing in China, where it draws annual revenues of US$1.2 billion. But the sluggish global economy and the company's high debt load from the Apollo acquisitions have kept profits down. CEVA reported an $88.5 million loss in the second quarter, which it attributed to weak transpacific volume and the recession in Europe.
TNT Express CEO Marie-Christine Lombard resigns ahead of UPS buyout
THE CEO of TNT Express, Marie-Christine Lombard, has resigned before the expected UPS acquisition, and chief financial officer Bernard Bot will temporarily take over the post.
Chairman of TNT Express' supervisory board Antony Burgmans said the company regrets Ms Lombard's departure. "We thank Marie-Christine for her contributions and wish her well for the future," he said.
TNT Express said the EUR5.16 billion (US$6.66 billion) UPS acquisition will continue as planned, reported Atlanta-area Air Cargo World. "This development has no bearing on the intended merger with UPS, which we expect to complete in early 2013," Mr Burgmans said in a statement.
"Moreover, the underlying business remains robust and continues to be well managed by an experienced management board. We have complete confidence in Bernard's ability to lead the business and to see through the merger with UPS."
But UPS said earlier in September that European Union's antitrust investigation is likely to prolong the completion of the deal, which was set to be settled in the fourth quarter of 2012.
Agility names Chris Price as new CEO to head Asia Pacific from January
KUWAITI global logistics provider, Agility, has appointed Chris Price as chief executive officer of its Asia Pacific operations.
The company also named Mike Bible CEO of its Europe operations, following the decision by Beat Simon to leave the company. In Europe, Mr Bible will manage more than 140 offices in over 29 countries, and more than 3,000 employees. Before his appointment, he was CEO of Agility Americas for five years, and before that, chief financial officer of Agility Americas.
"Agility has invested heavily in Asia in the last decade," said Essa Al-Saleh, president and CEO of Agility Global Integrated Logistics, in a statement. "The company is a top five logistics provider across the region, with a strong base in China that serves the domestic and international market, extensive operations in India, and market-leading presence in South East Asian countries like Singapore, Malaysia, Thailand and Indonesia."
Both appointments take effect from January 1.
Dachser opens offices in 21 new countries despite gloomy outlook
FORWARDER Dachser Air & Sea Logistics has announced that despite the gloomy economy, it will soon open offices in 21 new countries and will enlarge its activities in Vietnam to cope with the shift in the company' most important trade lanes.
The company' managing director, Thomas Reuter, explained that while the China-Europe and China-US trades are where officials see the most opportunity, new countries are becoming hotspots for the organisation.
"When we talk about retail and fashion, it can be seen that trades have switched from China toward countries like Bangladesh, Pakistan and Vietnam," he said. "But also, other countries are becoming more and more important ... like Colombia and Indonesia."
Last year, the company handled 50,000 tonnes of air freight and took in nearly US$6 million in total gross revenue. "From our perspective, we experienced a successful year on air freight in 2011," Mr Reuter said.
While air freight is an important part of Dachser's business, the company also does a healthy bit of sea freight business. In this time of high fuel prices, he's seen customers favour the sea freight side of transportation options, but he also knows that some customers can't easily make the switch from air freight to sea freight. For those customers, and really, for everyone involved in shipping, Mr Reuter said the coming months will be tough, according to Atlanta-area Air Cargo World News.
"Air and sea freight are very volatile businesses, where it is hard to predict the next months to come; the air and sea freight business is tightly connected with the international economy," he added. "In times like these - when European economies are losing ground, when the US economy is on hold due to the presidential elections, and even China starts lowering their own economic expectations - it really does become a challenging environment for the air and sea freight forwarder."
Despite the gloomy global economy, Mr Reuter can see the way forwards. "With continued perseverance and a bit of expansion, perhaps bigger things are in store for the company," he said.
Zim CFO Allon Raveh to quit by January, guided company through bad times
ISRAELI flag carrier ZIM Integrated Shipping Ltd (Zim Line) recently announced its chief financial officer Allon Raveh has resigned and will leave the company by the end of the year after serving the company for four years.
Zim Line's president and CEO Rafi Danieli said: "Allon took part in Zim's financial plan and the negotiations with the banks regarding the improvement of the company's financial covenants, in light of the deteriorating situation of the shipping industry in recent years. I would like to thank Allon for his contribution and wish him every success in the future."
So far, Mr Raveh's replacement has not been announced. Zim has been confronted with financial troubles and running in the red since the end of 2008. The carrier has not posted its financial results for the second quarter, so it is still too early to say whether it could benefit from a series of previous freight rate increases and return to profit in the second quarter.