HOOFDDORP, Netherlands, Oct. 10, 2012 /PRNewswire/ -- CEVA Logistics, one of the world's leading non-asset based supply chain management companies, today announced the retirement of John Pattullo, Chief Executive Officer, effective 12 October, 2012. Marvin O. Schlanger, CEVA's current Chairman of the Board, will be appointed CEO. Pattullo will continue to serve on CEVA's Board of Directors.
"When John came to CEVA, he expressed his expectation of staying with the company for five years," Schlanger said. "Under his leadership, the integration of TNT Logistics and EGL was successfully executed and the company's unique customer-focused, end to end operating model successfully developed. He has also assembled a world class leadership team. All of this has allowed CEVA to serve our customers better and to grow faster than the market. We want to thank John for his strong leadership of the company and look forward to his continued guidance as a member of our Board."
Schlanger added, "I look forward to working with the talented and dedicated employees of CEVA as we execute our strategies to become the most admired company in the supply chain industry."
CEVA is owned by affiliates of Apollo Global Management LLC, a leading global alternative asset manager.
CEVA - Making business flow
CEVA Logistics, one of the world's leading, non-asset based supply chain companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 51,000 employees are dedicated to delivering effective and robust supply chain solutions across a variety of sectors and CEVA applies its operational expertise to provide best-in-class services across its integrated network, with a presence in over 170 countries. For the year ending 31 December 2011, the Group reported revenues of €6.9 billion. For more information, please visit www.cevalogistics.com
SAFE HARBOR STATEMENT:
This news release may contain forward-looking statements. These statements include, but are not limited to, discussions regarding industry outlook, the Company's expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2012 and the other non-historical statements. These statements can be identified by the use of words such as "believes" "anticipates," "expects," "intends," "plans," "continues," "estimates," "predicts," "projects," "forecasts," and similar expressions. All forward-looking statements are based on management's current expectations and beliefs only as of the date of this press release and, in addition to the assumptions specifically mentioned in the above paragraphs, there are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the effect of local and national economic, credit and capital market conditions, a downturn in the industries in which we operate (including the automotive industry and the airfreight business), risks associated with the Company's global operations, fluctuations and increases in fuel prices, the Company's substantial indebtedness, restrictions contained in its debt agreements and risks that it will be unable to compete effectively. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's annual and quarterly reports, available on the Company's website, which investors are strongly encouraged to review. Should one or more of these risks or uncertainties materialize or the consequences of such a development worsen, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. CEVA disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
For more information contact:
CEVA Group Marketing & Communications
kay.hart@cevalogistics.com
+1-281-618-3292
