TNT Express has named Tex Gunning as chief executive officer, with interim CEO Bernard Bot stepping down to assume the role of chief financial officer.
Gunning, who has extensive business experience, will assume his position at the company on June 1.
The company's current CFO, Jeroen Seyger, will continue working in a senior financial position.
Antony Burgmans, chairman of the TNT Express' supervisory board, pointed to Gunning's experience with "turning around businesses" as a key asset. In January, a proposed merger between TNT and UPS fell apart.
“He is also an inspiring leader and we look forward to Tex stepping into his new role and helping the company realise its improvement plans," he said in a statement. "The combination of Tex and Bernard is an ideal executive board."
Bot became interim CEO in September when former CEO Marie-Christine Lombard abruptly resigned as TNT was pressing forward with its intended UPS merger.
Fourth-quarter results for TNT showed a 0.5-percent, year-over-year, decline in revenue to 1.86 billion euros, coupled with an operating income loss of 71 million euros. TNT’s overall loss for the quarter stood at 148 million euros, a 14.5-percent year-over-year improvement. - Jon Ross