The chief executive of TNT Express, Marie-Christine Lombard, is stepping down by the end of the month to pursue a new career, but the Dutch delivery group said its takeover by US rival UPS won’t be affected.
TNT Express said it still expects to close on the $6.8 billion deal with UPS, currently being investigated by European Union anti-trust regulators, in early 2013.
The company’s chief financial officer, Bernard Bot, will take over as interim CEO following Lombard’s departure.
Lombard headed the express unit of the former TNT for seven years before becoming its chief executive after it was spun off from the Dutch mail company as TNT Express in 2011.
TNT Express’s underlying business remains robust and continues to be well managed by the management board, said Antony Burgmans, chairman of the company’s supervisory board.
The EU is expected shortly to send a so-called statement of objections to UPS and TNT Express, outlining its concerns that their merger could reduce competition in express deliveries in several European markets.
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