TNT separates off express activities, CEO Bakker to step down

Dutch mail and logistics firm TNT on Thursday published details of its plans to split off its express delivery service and said CEO Peter Bakker is standing down once the demerger has been completed.


TNT will be separated into two companies from January 1.The mail company will keep a 29.9% stake in the express activities which will be returned to shareholders as soon as possible, Bakker said in a statement.
The division to split into two listed firms ‘marks another major milestone in the chequered history of what was the Dutch state postal service that expanded into express and then bought Australian express firm TNT in 1996,’ news agency Reuters said.
TNT’s mail activities are focused on the Netherlands, Germany, Italy and the UK. The express company will focus on fast delivery and freight.
The news was welcomed by investors in Amsterdam. By 09.30 hours, TNT shares were up 5%.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation