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CEVA Announces Retirement of Former CEO David Kulik
Hoofddorp, The Netherlands (ots/PRNewswire) -
- Kulik Continues Chairing Board of Chinese Joint Venture
The Board of Directors of CEVA Group plc. announced today that David G. Kulik, CEVA's Vice Chairman and former CEO, has advised the Company of his retirement, effective February 22nd, 2008. The Company also announced that they have entered into an agreement with Mr. Kulik wherein he will be a consultant to management as well as continue in his position as Chairman of the Board of ANJI-TNT, the joint venture between CEVA Logistics and Shanghai Automotive Industries Corporation - SAIC.
Gareth Turner, partner of Apollo Management, said "Dave has been a leader in the global logistics industry having been the CEO of CTI LogistX for a number of years and then with TNT as head of their Logistics division. He led the recovery and sale of TNT Logistics and was integral in the transformation of the company to CEVA as a portfolio company of Apollo Management. We are also pleased that he will continue to be associated with CEVA into the future and we thank him for his past service to the Company."
Kulik stated, "I am extremely proud of this organization and the success of 50,000 dedicated people in the transition to CEVA. I have been fortunate to lead the Company during an exciting period and I am confident that Apollo has positioned CEVA to achieve even greater levels of growth under the leadership of our industry's best management team. Thank you to all for your contribution and loyalty to CEVA."
CEVA Making Business Flow
CEVA Logistics supply chain management is recognised by its customers for making their business flow through our commitment to their success. CEVA focuses on a diverse range of market sectors including automotive & tyres, technology, industrial, retail & consumer goods, health care, publishing, aerospace and oil & gas. We offer our customers increased efficiency and reduced transit times, thanks to our ongoing focus on operations excellence and the visibility and control that we create in supply chains. As a leading global logistics company, we provide end-to-end design, implementation and operation of logistics solutions in contract logistics, freight forwarding, distribution management and transportation management for large and medium-sized national and multinational companies.
CEVA combines the heritage of two great companies, TNT Logistics and EGL, which merged in August 2007. We employ more than 50,000 people and operate an extensive global network with facilities in over 100 countries worldwide. We operate 614 warehouses around the globe summing a combined space of approximately 8, 6 million square meters. For fiscal year 2006, CEVA reported combined pro forma sales of EUR 6 billion. CEVA is an Apollo portfolio company. Apollo is one of the leading private equity investors in the world. CEVA's CEO is John Pattullo. For more information http://www.cevalogistics.com
About Apollo Management
Founded in 1990, Apollo is a leading private equity and capital markets investor with more than 17 years of experience investing across the capital structure of leveraged companies. The firm employs over 140 professionals and has offices in New York, Los Angeles, London, Singapore, Frankfurt and Paris. Since its inception, Apollo has managed more than US$41 billion of capital across a wide variety of industries both domestically and internationally. The firm's most recent private equity fund and its co-investment affiliate have capital commitments of approximately US$11.6 billion.
ots Originaltext: CEVA Logistics
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For more information contact: Paula Satink, Senior Public Relations,