Green Named CEO P&O Nedlloyd Container Line
P&O and Royal Nedlloyd N.V. announced the appointment by P&O Nedlloyd Container Line Limited of Philip Green as Chief Executive Officer from January 1, 2004. Green was, until recentl,y Chief Operating Officer of Reuters Group plc which he joined in 1999. His responsibilities included the design and implementation of a global change management program. Prior to this he worked for nine years with DHL International, the global market leader for cross-border express delivery, becoming Chief Operating Officer for Europe and Africa. Green holds an MBA from London Business School and a BA (hons) degree from the University of Wales. Haddo Meijer, CEO of Royal Nedlloyd NV, will stand down as Chairman of the Executive Committee of P&O Nedlloyd on January 1, 2004.
P&O Nedlloyd to Become Independent and Listed
P&O and Royal Nedlloyd N.V. Line Limited ("PONL"). Nedlloyd will be renamed Royal P&O Nedlloyd N.V. ("Royal P&O Nedlloyd") upon completion of the transaction. rights issue referred to below. share price at closing of business on 30 January 2004. following the transaction. resources. diligence. P&O for listing on Euronext Amsterdam. Martinair as previously indicated to the market.
EC OKs P&O, Royal Nedlloyd Split
The European Commission approved, pursuant to the Merger Regulation, a proposed transaction by which the British port operator P&O and the Dutch liner shipping company Royal Nedlloyd reorganize their common activities in the container liner shipping business. In 1996 Royal Nedlloyd NV and Peninsular and Oriental Steam Navigation Company (P&O) transferred all their respective activities in containerized liner shipping services to a newly created joint venture called P&O Nedlloyd (PONL). The businesses transferred included all their container ships, their respective ocean freight-forwarding business, the container packing operation as well as the road haulage business and rail shuttle business.
P&O Nedlloyd Reverse Listing Finished
Royal P&O Nedlloyd has taken full ownership of P&O Nedlloyd which has effectively become independently listed on the Euronext stock market in Amsterdam. This marks the closing of the rights offering and the completion of the acquisition by Royal Nedlloyd of P&O's 50 per cent stake in P&O Nedlloyd. It also is the renaming of Royal Nedlloyd NV as Royal P&O Nedlloyd NV, and the independent listing of P&O Nedlloyd through Royal P&O Nedlloyd. "I am delighted that we have achieved the listing of P&O Nedlloyd on Euronext today. It is the culmination of our plan to give P&O Nedlloyd the independent status it needs to grow and flourish," said Andrew Land, Chairman of Royal P&O Nedlloyd.
