Former ACG head Michael Schaecher joins CEVA as airfreight boss

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We wouldn’t normally link through to a press release, but the breaking news today is that Michael Schaecher, erstwhile former boss of doomed Air Cargo Germany, and former EVP air freight for DHL Global Forwarding, has joined CEVA. It’s a good signing for the forwarder, which, during some of its lows of last year, had been accused of losing rather than gaining experienced logistics managers. He becomes chief operating officer, global airfreight, reporting directly to new CEO Xavier Urbain. It could be a good challenge for Mr Schaecher, after CEVA in February reported dwindling airfreight volumes out of Asia and modal shift to sea. And his position on the executive board will no doubt be fascinating, as the financial struggle with investor Apollo rumbles on.