TNT shareholders back split into post and express arms

[TrueBlueTerrier]

http://www.dutchnews.nl/news/archives/2 ... lit_in.php" onclick="window.open(this.href);return false;

Shareholders in post and parcel delivery firm TNT on Wednesday agreed with plans to split the company into two: a postal arm to be known as PostNL and an international express division.

‘This is a historic day,’ CEO Peter Bakker said after the meeting. Bakker is standing down on June 1 to work for the United Nations.

TNT Express CEO will be Marie-Christine Lombard, while Harry Koorstra will take over the helm at PostNL.

The decision to split into two listed firms is a milestone in the chequered history of the Dutch state postal service which bought Australian express firm TNT in 1996 and merged it with its postal arm, PTT Post. Two years later, that company split into TPG Post and its telecoms arm KPN. In 2006 TPG Post was renamed TNT Post.

TNT’s mail activities are focused on the Netherlands, Germany, Italy and the UK. The express company will focus on fast delivery and freight.