Ad hoc: Deutsche Post World Net appoints Ken Allen to Management Board; John Mullen resigns / Company to propose 2008 dividend of 60 euro cent02/25/2009
The Supervisory Board of Deutsche Post World Net today appointed Ken Allen to the Management Board of the world’s largest logistics company and Chief Executive Officer of DHL Express. Allen, 53, succeeds John Mullen, whose resignation today was regretfully accepted by the Supervisory Board.
Allen has held different positions within the Group, most recently as CEO of DHL Express USA where he was in charge of the day-to-day implementation of the U.S. Express restructuring program. The British native has a long track record of successful business turnaround situations at DHL. Before taking on the U.S. role last year, Allen was CEO of DHL Express EEMEA, where he doubled revenue growth and margin within two years. Before that, he ran DHL Express Canada and was also working for the company in various functions in Asia Pacific.
Mullen, 53, has worked with the Group since 1994, joining DHL Express full-time in 2002 when he assumed the position as CEO in the Asia Pacific region. Mullen’s decision to resign came as he has experienced a few health challenges in recent months. Mullen will remain available to the company for as long as is required to ensure a smooth transition and will act as a Senior Advisor to Group Chief Executive Officer Frank Appel for a further period of time.
Also in today’s meeting, it was decided, that the company will propose to the Annual Shareholders’ Meeting a 2008 dividend payout of 60 euro cents per share. This is against the background, that the sharp reductions in demand experienced in the fourth quarter deepened so far in the first quarter of 2009, impacting all regions and most industry sectors. The company expects that this level of volume decline will continue throughout the first half of the year if not longer.
Given the unprecedented decline in volumes and the unpredictable economic outlook, the Group doesn’t believe it is possible to provide a firm outlook for the year. Based on early indications, the management board now expects some decline in 2009 underlying earnings compared with 2008, however with a significant improvement in reported earnings.