Fahy leaves DHL Global Forwarding
15 / 05 / 2008
AIR Cargo News has learned that DHL Global Forwarding’s president and chief executive officer, Chris Fahy (right), has reached an agreement to leave the company. The move was exclusively predicted by Air Cargo News issue 624, following a major restructuring in March.
On 4 March, Herman Ude was appointed to run the newly combined Global Forwarding and Freight business unit, effectively taking over Fahy’s role within the company. Ude previously headed up the Freight business unit.
In further moves, former managing director marketing & sales for DHL Express Europe, Thomas George, has been appointed by Ude to take over the running of the loss-making Freight business unit on his behalf.
In addition, DHL’s Global Customer Solutions chief executive officer, Rolf Habben-Janse, has resigned from the company to join Maersk Logistics/Damco, as its new chief executive officer.
Meanwhile DPWN has released its full Q1 results. Earnings (EBIT) declined 14.8 per cent, blamed on the banking crisis and poor results from DHL Express in the US.
DHL Global Forwarding’s revenue rose by 7.4 per cent (organic growth 13.7 per cent) and airfreight volumes by 6.6 per cent.
In addition, EBIT rose to €90 million, with a margin of 3.8 per cent.
