Supply Chain News / Finance & Credit

After Unsuccessful Acquisition Bid, TNT Names New CEO

Top management appointments follow suspension of UPS bid to acquire TNT Express.

TNT Express has announced the appointment of Tex Gunning as the company's new chief executive officer, effective June 1, 2013.

TNT Express also announced that Bernard Bot, who has been acting as interim CEO, will remain on the executive board as chief financial officer. Tex Gunning will become the company’s new CEO on June 1st. Meanwhile, Jeroen Seyger, currently interim CFO, will continue in a senior finance function in the company.

Gunning will relinquish his role as a member of TNT Express' supervisory board to take up his new position. In addition, Gunning will leave his current role on AkzoNobel's board of management and executive committee on April 26, 2013.

Prior to joining AkzoNobel, a global provider of paints and coatings, Gunning was CEO of Vedior, a recruitment specialist, which he successfully merged with Randstad in 2008. His career also includes more than 25 years with Unilever.

In announcing the appointment, Antony Burgmans, chairman of the supervisory board, noted that the board looked forward to Gunning helping the company realize its improvement plans. Gunning acknowledged the goal saying, “I fully endorse the improvement plan that is being developed and am fully committed to its successful implementation.”

The appointments are on the agenda for TNT’s annual general meeting of shareholders on April 10, 2013. The finalization of the improvement plans is underway and will be presented at an upcoming strategy update on March 25, 2013.
 

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