Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
Baar, Switzerland, 5 October, 2018 - CEVA Logistics announces that it has appointed Serge Corbel as its new Chief Financial Officer (CFO). He will start his new position as of 15 October, 2018. Peter Waller, Group CFO since 2016, will pursue other career opportunities outside of the company.
Peter Waller has contributed tremendously in both the IPO in May 2018 and the successful refinancing of the company's entire debt. While the Board of Directors and Xavier Urbain, CEO of CEVA Logistics, are most grateful for Peter Waller's outstanding work in preparing CEVA Logistics for the demands of the capital market, it was concluded that a different background and comprehensive experience in logistics are required for supporting the company in further implementing its business strategy and for transforming the group and bringing it to the next level.
Serge Corbel has been in the logistics industry for more than 30 years and has been with CMA-CGM, a leading worldwide shipping group, for more than 25 years. He has extensive sector know-how and comprehensive experience in running complex finance organisations and has been working in Europe, America and Asia. Serge Corbel was one of the key financial architects of the growth of CMA-CGM, leading several acquisitions and integrations, Neptune Orient Lines (NOL) and American President Lines (APL) being the most recent ones. During his last position at CMA-CGM, he was CFO of APL, a CMA-CGM company, based in Singapore.
"I would like to thank Peter Waller for his commitment and contribution which was very important to create a new chapter for the company. I am pleased to welcome Serge Corbel as our new CFO who has tremendous experience and a great track record in supporting the growth of a company," says Xavier Urbain, CEO of CEVA Logistics.
For additional information please contact:
SVP Investor Relations
+41 41 547 0048
Group Head of Marketing and Communications
+41 41 547 00 52
Tel: +44 (0)208 941 5381
CEVA - Making business flow
CEVA Logistics, a global asset-light third-party logistics company, designs and operates industry leading supply-chain solutions for large and medium-size national and multinational companies. Its integrated network in Freight Management and Contract Logistics spans more than 160 countries. Approximately 56,000 employees are dedicated to delivering effective solutions across a variety of industry sectors where CEVA applies its operational expertise to provide best-in-class services. CEVA generated revenue of $7 billion and adjusted EBITDA of $280 million in 2017. CEVA Logistics is listed on SIX Swiss Exchange under ticker symbol CEVA. For more information, please visit www.cevalogistics.com.
End of ad hoc announcement