K+N Russia goes to Perry Neumann
It is a special kind of MBO. On 3 June 2022, the Switzerland-based logistics group Kuehne + Nagel signed an agreement to sell its business in the Russian Federation to its local managing director Perry Neumann.
Since March 2022, the company had temporarily suspended all shipments to/from the Russian Federation, except for pharma, healthcare and humanitarian supplies. The scope of its activities in Russia and Ukraine activities was limited.
In March, CEO Trefzger said that "just under 2% of the company's own 78,000 employees are from Russia or Ukraine, and no major K+N hub is located in the disputed territory."
The closing of the transaction is still subject to approval by the regulatory authorities. Neumann, president cluster Russia + CIS, Kuehne + Nagel, was in charge at K+N Russia for more than 16 years. He confirmed his intentions and said that he will be happy to run his own business independently of the headquarters in Schindellegi. (sh)