TNT Express CEO abruptly resigns

   TNT Express, which is in the midst of being sold to rival UPS, on Monday announced the surprise resignation of Chief Executive Officer Marie-Christine Lombard.
   She will leave the company at the end of the month to pursue another opportunity.
   Chief Financial Officer Bernard Bot will take over as interim CEO.
   “It is regrettable that Marie-Christine has decided to leave TNT Express now,” Supervisory Board Chairman Antony Burgmans said. “We thank Marie-Christine for her contributions and wish her well for the future. This development has no bearing on the intended merger with UPS, which we expect to complete in early 2013. Moreover, the underlying business remains robust and continues to be well managed by an experienced management board. We have complete confidence in Bernard’s ability to lead the business and to see through the merger with UPS.”
   European Union competition authorities are reviewing the proposed $6.5 billion merger. A longer-than-expected review of the deal’s market impact has delayed the deal a couple of months.
   TNT and UPS are two of the Big 4 global express delivery companies. TNT delivers almost 1 million package and freight shipments each year. TNT had revenue of 7.2 billion euros ($9.3 billion) in 2011. – Eric Kulisch