OCEAN GROUP, EXEL REORGANIZE AFTER MERGER

OCEAN GROUP, EXEL REORGANIZE AFTER MERGER    Following the merger of the British groups Ocean Group plc and Exel, the combined group will be reorganized.
   The merged entity, to be called “Exel,” will comprise five divisions: consumer/retail/healthcare – Americas; consumer/retail/healthcare – Europe; development and automotive; technology and global freight management; and Asia/Pacific.
   Each division is headed by a divisional chief executive who, together with senior group center managers, will sit on an executive board chaired by group chief executive John Allan.
   John Coghlan becomes deputy chief executive of the group.
   Bob Lake, chief operating officer of Exel, will retire at the end of the year but has agreed to remain as chairman of Exel Americas at least until that date.
   Exel has also appointed 100 managers below the executive board level.
   With annual revenues of $5.6 billion, Exel said that it will be the world’s second largest logistics group. The top logistics group is Deutsche Post.