GLOBAL – Kuehne+Nagel International’s board of directors has greenlit a new approach to how country organizations report directly, paving the way for enhanced efficiency and profitable growth, according to an official statement.

“This change will affect fewer than one percent of our workforce, with the majority transitioning to new roles,” stated a company representative.

By streamlining responsibilities, the revamped structure will empower Kuehne+Nagel’s business and functional units to refine their strategies in alignment with swiftly evolving market dynamics and expedite decision-making processes.

The company emphasized that this restructuring will not only foster greater global consistency but also ensure closer proximity to customers.

The previously entrenched regional structure will be phased out, with responsibilities integrated into Kuehne+Nagel’s Group functions as deemed appropriate. Cluster and National Managers will now report directly to the Management Board of Kuehne+Nagel International.

Joerg Wolle, Chairman of Kuehne+Nagel, remarked, “With the streamlining of regional management levels, the Kuehne+Nagel Group is optimizing its organizational framework, laying the groundwork for further efficiency enhancements to respond even more swiftly and flexibly to the increasingly dynamic global trade landscape.”

2023 sees 48% decline in net earnings for Kuehne+Nagel

Kuehne+Nagel reported a 48 percent decrease in net earnings, totaling CHF 1.5 billion (USD 1.7 billion) for 2023, alongside a 40 percent dip in net turnover to CHF 23.8 billion (USD 26.9 billion).

This decline, the company explained, follows the normalization of business results in 2023 after the exceptional economic circumstances of 2021 and 2022.

Stefan Paul, CEO of Kuehne+Nagel, commented, “Despite the ongoing challenging environment, Kuehne+Nagel delivered a commendable performance in 2023. We adjusted our cost structure to align with market conditions by intensifying restructuring efforts in the fourth quarter.”

He added, “Simultaneously, we made significant strides in sea logistics, particularly within the SME segment, and completed two notable acquisitions—Morgan Cargo in South Africa and Farrow in Canada. Progress toward our Roadmap 2026 objectives remains steady.”

Kuehne+Nagel boosts presence in Asia with City Zone Express acquisition

Kuehne+Nagel has finalized an agreement to acquire City Zone Express, a subsidiary of Chasen Holdings, listed on the Singapore Exchange Mainboard.

Established in Malaysia in 2006, City Zone Express operates in Malaysia, Singapore, Vietnam, Thailand, and China, boasting a workforce of over 500 employees.

In a filing with the stock exchange, Chasen Holdings disclosed that the deal with Kuehne+Nagel amounts to SGD 67.4 million (USD 50 million).

Excluding certain minority interests, the net proceeds expected by Chasen Holdings are approximately SGD 57.7 million (USD 42.6 million), subject to adjustments.

For all the latest fresh produce industry news updates from Africa, the Middle East, and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.