KN plan

AS of 1 October, 2008, Klaus-Michael Kuehne will delegate important functions within his scope of responsibilities to Karl Gernandt.

Gernandt will become board member of the Kuehne Foundation, Schindellegi. At the same time he will become managing director of the newly planned ‘Klaus-Michael Kuehne Foundation’, in which all Kuehn’s sponsorships in his hometown of Hamburg will be bundled. Furthermore, Gernandt will be appointed president of the Logistics Center of Excellence GmbH’, a new Hamburg-based company, which will coordinate all the donator’s activities in worldwide logistics research and education. Gernandt will maintain offices in Hamburg/Germany and Schindellegi/Switzerland.

Klaus-Michael Kuehne said: “The Kuehne + Nagel Group is well positioned among the leading global logistics providers and has maintained a remarkable course of success. At the age of 71, I have decided to pass many of my responsibilities into younger hands and I am fortunate to have found a person to whom I will entrust a significant part of my life’s work. I am confident that Mr Gernandt’s proven leadership and advanced management capabilities will support my objective to sustain the continued growth, stability and independence of the K+N Group. Furthermore, it is my intention to expand the field of interest of the Kuehne Holding AG and to initiate new entrepreneurial engagements. As the Kuehne Foundation will someday inherit my shareholding in K+N, the Board of Foundation will be enlarged and rejuvenated with top management talent. I will remain president of the board of the Kuehne Foundation and chairman of the board of directors of K+N International AG. In close cooperation with Mr Gernandt, I will continue to foster K+N’s leading position in the global logistics industry – which is of heartfelt importance to me – through my experience and entrepreneurial contributions.”