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2/26/2013 12:00:00 PM Write a Letter to the Editor Write a letter to the Editor

TNT Express Selects New CEO

TNT Express said it has appointed Tex Gunning to be its next CEO, effective June 1.

Gunning still needs to win approval of TNT shareholders at an April 10 meeting, the Netherlands-based express package carrier said in a statement.

Chief Financial Officer Bernard Bot has been acting CEO since Marie-Christine Lombard stepped down on Sept. 30 during a bid by UPS Inc. to acquire the package carrier for about $6.8 billion.

UPS withdrew its bid for TNT in January after European regulators moved to block the deal.

Gunning, 62, is a board member at AkzoNobel, where he has overseen the Dutch chemical conglomerate’s paints division since 2009. He also spent more than 25 years with Unilever.

Gunning will remain in the AkzoNobel post until April 26 and will step down immediately from TNT Express’ supervisory board.

TNT Express last week reported a fourth-quarter loss of about $198 million.

“Tex’s extensive business experience and track record in successfully turning around businesses and delivering results make him the ideal candidate in this critical time for the company,” TNT Chairman Antony Burgmans said in a statement.

By Transport Topics
Staff Reporter Greg Johnson contributed to this story.

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