"Not satisfying but not a disaster either" is how Reinhard Lange, chief executive of market leader Kuehne+Nagel (K+N), summed up 2012 in an analysts' conference last week. However, his efforts to impart an air of imperturbability looked somewhat at odds with the group's assessment of the situation. In response to the first marked profit decline for years, K+N announced a major organisational shake-up, merging a number of regions throughout Europe and Asia while Lange himself offered his resignation "for health reasons" at the May AGM, seven months before his contract expired.
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