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By Alex Lennane
It’s all change at Kuehne + Nagel, which is not only losing its CEO, but has admitted to failing to adjust costs last year at the right time. Share prices for the world’s biggest sea freight forwarder fell as it missed analysts’ estimates, with earnings before tax, depreciation and amortisation (EBITDA) down 12.5% on the previous year to CHF122m ($129m), on turnover of CHF20.7bn. With CEO Reinhard Lange leaving on 7 May for health reasons, and the company restructuring its regional operations in July, it would seem like something of a shake-up at the Swiss company.
