DSV – €5bn bond package details
DSV said this week it “has through DSV Finance B.V. successfully placed and closed an ...
CAT: RISING TRADEEXPD: TRUMP TRADE LOSER LINE: PUNISHEDMAERSK: RELIEF XPO: TRUMP TRADE WINNERCHRW: NO JOYUPS: STEADY YIELDXPO: BUILDING BLOCKSHLAG: BIG ORDERLINE: REACTIONLINE: EXPENSES AND OPERATING LEVERAGELINE: PIPELINE OF DEALS LINE: DEMAND PATTERNS LINE: LANDSCAPELINE: CONF CALL STARTSDSV: UNTOUCHABLEEXPD: NOT AS BULLISH AS PREVIOUSLYFWRD: SPECULATIVE RALLY
CAT: RISING TRADEEXPD: TRUMP TRADE LOSER LINE: PUNISHEDMAERSK: RELIEF XPO: TRUMP TRADE WINNERCHRW: NO JOYUPS: STEADY YIELDXPO: BUILDING BLOCKSHLAG: BIG ORDERLINE: REACTIONLINE: EXPENSES AND OPERATING LEVERAGELINE: PIPELINE OF DEALS LINE: DEMAND PATTERNS LINE: LANDSCAPELINE: CONF CALL STARTSDSV: UNTOUCHABLEEXPD: NOT AS BULLISH AS PREVIOUSLYFWRD: SPECULATIVE RALLY
It marked the end of an era at DSV when chief executive Jens Andersen (above) announced he would be leaving today, drawing the curtain on nearly 16 years at the helm of the Danish 3PL.
In October he announced his departure date of 30 September 2024, when he would hand over to chief operating office Jens Lund. However, this has been brought forward by some nine months.
“I was due to leave no later than 1 October, but I have worked with Jens Lund for more than 18 years, and there was never a real need for a handover that lasted 12 months. I am 100% clear that that Jens and his new teams will steer the company in a good manner,” he told analysts during this morning’s 2023 annual results earnings call.
DSV chairman Thomas Plenborg said: “Following a seamless and swift handover process, the time is right to pass on the responsibility.
“Jens Bjørn Andersen has delivered incredible results and significant value for our shareholders since 2008 and, on behalf of the board of directors, I would like to once again thank him for his contribution over the years.”
Mr Lund is now chief executive and today introduced a new management structure that will see a chief operating officer appointed to each of the company’s management divisions – Air & Sea Forwarding, Road and Solutions.
Meanwhile, DSV veteran Brian Ejsing has been named as the new group COO and will join the executive board. He joined DSV as a freight forwarder in 1986 and has held senior managerial roles in several countries.
He has been CEO of Solutions since 2012 and will be replaced in that role by Albert-Derk Bruin, previously EVP of business strategy, excellence and change management in the Solutions division.
Morten Landry has been appointed the group’s chief commercial officer. Another DSV veteran, with a 20-year career, he was MD Air & Sea in the UK and Ireland.
Another former UK MD, Rene Falch Olesen, will step down after more than 40 years with DSV. He was most recently CCO and part of the executive committee since 2009.
Meanwhile the big news in its forwarding operation is the confirmation that Air & Sea CEO Carsten Trolle will step down on 1 May, and will be replaced by Air & Sea Germany MD and executive VP for Central Eastern and Southern Europe, Frank Sobotka.
However, Mr Trolle will remain with the company to “support the group with strategic projects”.
Mr Lund said: “I would like to sincerely thank Carsten Trolle, who has been instrumental in the development of the Air & Sea division over the years, through large integrations and challenging markets. I am happy that Carsten will stay on board to support us.
“I also sincerely thank Rene, his significant contribution to DSV during the past many years has played an important part in the development of our commercial organisation and commercial support systems.
“I welcome Brian Ejsing as group COO and as a strong addition to our executive board. Brian has an outstanding track record at DSV and will now take over the responsibility for the continued optimisation of our processes and global network.
“At the same time, I would also like to congratulate Frank, Albert-Derk and Morten on their new responsibilities,” he added.
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