TOLL Group managing director Michael Byrne has announced his resignation, effective 31 December, after three years in the role.
His replacement is to be Thomas Knudsen who is currently president of Toll Group’s Global Forwarding division.
Originally from Denmark, Mr Knudsen has more than a quarter of a century of experience in freight forwarding and contract logistics.
Mr Knudsen will continue to be based in Singapore.
Toll Group chair John Mullen said Mr Byrne and his team led Toll Group through several challenges since his January 2017 appointment.
“Michael was appointed as managing director at a pivotal time for the company,” Mr Mullen said.
“Under Michael’s leadership, Toll has delivered on a comprehensive transformation program resulting in improved safety, a more efficient operating model, stronger operations, and better governance.”
Mr Mullen said Thomas Knudsen was a seasoned logistics executive.
“Thomas was a standout candidate because of his deep knowledge of the industry, deep understanding of Asia, global experience and track record in building high performing international teams. The internal appointment will provide continuity while bringing fresh perspectives and ideas.”
Mr Byrne said his time as MD had been focused on safety, leadership and business fundamentals.
“I am proud of the enormous strides we have made that will position the company for future growth,” he said.
Mr Knudsen said he was delighted to have been appointed MD. “The Toll Board has exciting ambitions to expand Toll’s operations in Australia, Asia and the rest of the world. We have enormous opportunity and I look forward to get to work.”