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Thomas Held News

07 Jul 2008

New CEO at NOL

Neptune Orient Lines Limited announced that, by mutual agreement with the Board of Directors, Dr Thomas Held has stepped down from the position of Group President and Chief Executive Officer (“CEO”) of the company and that Mr Ronald Widdows has been appointed as the new Group President and CEO. Dr Held has also resigned from, and Mr Widdows has been appointed a member of, the NOL Board of Directors. The changes have immediate effect. Mr Widdows is currently the CEO of NOL’s container shipping business APL, and has held this position since 2003. Dr Held has been CEO of NOL since November 2006 and brought to the Group extensive experience of global logistics.

14 May 2008

NOL 1Q Profit Up 183%

Neptune Orient Lines (NOL) reported a net profit for the first quarter of 2008 (1Q08) of $121 million, a rise of 183% over the same period of 2007 (1Q07). 1Q08 EBIT was $137 million, up 114% on the prior year. Revenue rose year-on-year by 27% to $2.41 billion. “Our increased revenue clearly shows our Group is well positioned in a growth industry. At a time of economic uncertainty and unprecedented fuel costs, we have again illustrated the viability of our business model and our strong focus on cost management,” said Dr. Thomas Held, NOL Group President and CEO.

12 Feb 2008

NOL Profit Soars 44%

Neptune Orient Lines (NOL) reported a net profit for 2007 of $523 million, 44% higher than the result for 2006. The Group’s EBIT was $613 million, 53% higher than in 2006. For the fourth quarter of 2007 (4Q07), the company reported a net profit of $196 million (up 292%) and EBIT of $228 million (up 221%). Revenue for the year was up 12% to a record $8.16 billion. Announcing the results in Singapore, NOL Group President and Chief Executive Officer, Dr Thomas Held, said: “At the start of 2007, we said NOL had a clear, unambiguous intention to grow profitably.

14 May 2007

NOL Group 1Q Profits Drop 64%

Neptune Orient Lines (NOL) reported a net profit for the first quarter of 2007 of $43m, down 64% year-on-year. The Group’s Core EBIT (Earnings Before Gross Interest Expense, Tax and Non-Recurring Items) was $58 million, 59% lower than Core EBIT for the same period of 2006. The Liner business achieved Core EBIT of $41 million, down 67%. APL Logistics reported Core EBIT of $12 million, down 25%. 1Q2007 revenues rose year-on-year by 1% to $1.9 billion. NOL Group President and Chief Executive Officer, Dr Thomas Held, said: “Freight rate levels for our company in the first quarter of 2007 were, on average, 6% lower than in first quarter 2006. This reduction in rate levels year-on-year has been the major factor in the lower profit reported today.

25 Oct 2006

NOL Appoints Held CEO

The Chairman of Neptune Orient Lines Limited (NOL), Cheng Wai Keung, announced the appointment of Dr. 2006. Dr. Held will also be appointed a member of the NOL Board of Directors. Dr Held is a German national, whose most recent appointment was as Chairman and CEO of European-headquartered Schenker AG, one of the world’s leading providers of integrated logistics services. He served in this role for three years before stepping down in January 2006 following Schenker’s value-creating acquisition of the North America-based freight forwarder Bax Global. “The NOL Board considers Thomas Held to be one of the world’s outstanding transportation industry leaders and we are delighted to have an executive of his stature joining our company as CEO,” Cheng said.