DR JOERG Wolle has been re-elected as chairman of Kuehne + Nagel for another one-year term following the Swiss company’s annual meeting.

All other board members were also re-elected for one-year terms.

Shareholders followed the board of directors’ recommendation to re-elect Karl Gernandt and Klaus-Michael Kuehne to the compensation committee for another one-year term until completion of the next annual meeting.

Ms Hauke Stars was newly elected to the compensation committee for the same term.

In a separate vote, shareholders confirmed the total maximum amount of remuneration for the management board, covering the next business year 2020.

The next annual meeting is set for May 5.

K + N has reported a busy start to the year, with EBIT in seafreight said to have “expanded significantly”.

“Kuehne + Nagel got off to a good start in 2019,” said chief executive of Kuehne + Nagel International, Dr Detlef Trefzger.

“Once again, we increased our net turnover, gross profit and EBIT. However, we find ourselves in an environment in which global economic growth is noticeably slowing.”

Dr Trefzger said they were nonetheless well positioned to deal with the challenging conditions.

“Consistent with our business strategy, we focus on introducing new digital platforms and highly specialised industry solutions,” he said.

“For 2019, we plan to remain on course to grow as a Group and further increase our results.”

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