K+N CEO to depart amid weak earnings

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Monday, March 04, 2013

Kuehne + Nagel International AG has accepted the resignation of CEO Reinhard Lange for health reasons, effective May 7. Monday's announcement of Lange's departure came as the Swiss freight forwarder released lower earnings results for 2012. The company's net profit fell 18.6 percent from 2011 to 493 million Swiss francs ($522.6 million). Operating profit fell 12.5 percent to 856 million Swiss francs, including a 65 million franc penalty paid to the European Commission...

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