Kuehne + Nagel, the second-largest third-party logistics provider in the world by gross revenue, announced Tuesday that CEO Detlef Trefzger will step down for personal reasons and be replaced by Stefan Paul, the head of road logistics and sales, effective Aug. 1.
Trefzger, who will be named to the supervisory board, has had a successful 8.5-year run at the Swiss-based freight management and contract logistics company.
Kuehne + Nagel (CXE: KNIN) is the largest wholesaler of ocean transportation and with the acquisition of Hong Kong-based Apex International earlier this year is also the largest airfreight forwarder in the world. The company’s net sales increased 50% from a year ago and pretax earnings doubled to $1.96 billion during the third quarter.
Paul, 52, started his career at Kuehne + Nagel in 1990. Between 1997 and 2013, he held management positions at various logistics companies in Germany and the U.K., before returning to Kuehne + Nagel and assuming responsibility for all trucking activities. He was able to expand and globalize the business while increasing profitability. Later, he also took over management of the global sales operation.
“One of Kuehne + Nagel’s principles is long-term company development, which includes, above all, succession planning for management positions. In view of the company’s very successful performance, the focus thereby lies on ensuring continuity. With the appointment of Stefan Paul as CEO, the global strategy and corporate culture will be sustained,” said Chairman Joerg Wolle.
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