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TNT Express nominates two new Supervisory Board members

TNT Express has announced its intention to expand its Supervisory Board with the recommended addition of Marcel Smits and Sjoerd van Keulen. The Supervisory Board has nominated the two candidates and recommended that all shareholders vote in favour of their appointment at the Annual General Meeting on April 11, 2012.

Marcel Smits is currently the CEO of Sara Lee Corporation, while Sjoerd van Keulen is the Chairman of Holland Financial Centre.

A company statement said, "We are confident that shareholders will support the appointment of these new Supervisory Board members."

The statement continued, "TNT Express has received a proposal from one shareholder requesting the nomination of one or more other individuals to the Supervisory Board. After careful consideration, the Supervisory Board has rejected the nomination of these candidates as they do not meet the requirements of independence as laid down in the company's legal and governance rules relating to the composition of the Supervisory Board."

In November 2011, Ti reported that shareholders had voiced disquiet over the company's focus on emerging markets and a series of profit warnings. A report in the Wall Street Journal even suggested that one shareholder had called for the removal of the company's Chief Executive Marie-Christine Lombard. However, proposals to change the corporate structure of the company have been rejected by the Supervisory Board and it is expected that Marcel Smits and Sjoerd van Keulen will be appointed in April.
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Source: TNT Express


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