Contract logistics the star performer for DHL, but weak rates take a toll
German logistics giant DHL saw group operating profit (Ebit) in the first quarter decline by ...
Marc Meier, a DHL veteran of 20 years, has become global head of ocean freight for Toll Global Forwarding (TGF).
He left DHL in 2021 where latterly he was head of global international supply chain, and joined ECU Worldwide, as head of Germany and central Europe region, for just under two years. He also spent more than a decade at Hellmann.
Mr Meier, who will be based in Singapore, wrote on LinkedIn that he looked forward to “successfully growing the product portfolio”.
However, Loadstar Premium sources have expressed concern over the future of TGF.
“It is essentially a broker for shipping services. It artificially looked good when shipping lines charged extortionist rates over Covid, but what is TGF’s financial performance when ocean rates tanked?
“TGF has no unique selling proposition – it is just going on a gravy train ride with Japan Post’s money.
“It’s the latest deck chair to be set up on the Titanic.”
However, Mr Meier’s experience could trigger change at TGF. One commentator noted he’d be “an invaluable asset” to the company.
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