Bakker to leave after TNT surprise split
01 / 12 / 2010
IN a surprise announcement, TNT, Europe’s second-largest express company, will sell its express-delivery business to focus on its postal work.
Already rumours are circulating that UPS or FedEx are considering buying the express unit, which is estimated to be worth over €6.25 billion (US$8 billion).
The demerger of the two divisions still requires shareholder approval.
TNT’s chief executive officer, Peter Bakker (right), will leave the company when the unit is sold leaving Harry Koorstra to run the mail and Marie-Christine Lombard the express divisions.
Mail contributed 41 per cent of TNT’s sales last year, and 73 per cent of the group’s operating profit.