Release Date:
Release ID: 4724

Annual General Meeting of Kuehne + Nagel International AG

All Board of Directors’ proposals approved

Schindellegi / CH, May 18, 2010 – At today’s Annual General Meeting of Kuehne + Nagel International AG 65.8 per cent of voting shares were represented. All proposals were approved by clear majorities.

In reviewing the business year 2009, Klaus-Michael Kuehne, Chairman of the Board of Directors of Kuehne + Nagel International AG, expressed his pleasure on how Kuehne + Nagel coped with the difficult global economic environment. The Group increased its market share in all business units and achieved solid results. Very early, appropriate measures were taken to strengthen the global market position and competitiveness. The Chairman is confident regarding the further business development, although setbacks in the economic recovery could not be excluded. “We have decided to continue our dual strategy of process optimisation and stringent cost management on one hand, and extending market shares by specific growth initiatives on the other.” In this context, Klaus-Michael Kuehne emphasised the benefits of Kuehne + Nagel’s global logistics network, which enables the Group to take advantage of business opportunities in growth regions. The company will extend its activities in such growth markets as China, India, Vietnam and in various countries in South America and the Middle East.

Clear majorities for proposals

The shareholders approved the annual report, the financial statements and the consolidated financial statements for 2009 and followed the Board of Director’s recommendation to distribute a dividend at the same level as 2008 of CHF 2.30 per share. The dividend will be distributed as of May 26, 2010.

The Annual General Meeting granted discharge to the Board of Directors and the Management Board for the 2009 business year.

Elections to the Board of Directors

Juergen Fitschen, Karl Gernandt, Hans-Joerg Hager, Dr. Joachim Hausser, Klaus-Michael Kuehne, Hans Lerch, Dr. Georg Obermeier, Dr. Wolfgang Peiner, Dr. Thomas Staehelin and Bernd Wrede were re-elected to the Board of Directors for one-year terms.

Newly elected to the Board of Directors was Dr. Joerg Wolle, Swiss citizen, for a one-year term. Dr. Wolle is President and CEO of DKSH, the leading Market Expansion Services Group with a focus on Asia.

Approved Capital

The Annual General Meeting extended its authorisation of approved capital up to a maximum of CHF 20 million until May 8, 2012. This measure provides Kuehne + Nagel with the required flexibility to finance strategic investments.

Statutory Auditor

KPMG AG, Zurich, was confirmed as the statutory and Group auditor for the business year 2010.

The next Annual General Meeting will be held on May 10, 2011.
59 Piccadilly Manchester M1 2AQ
Telephone: +44 (0)161 408 0542
Fax: +44 (0)870 432 1732

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