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VOL. 127 | NO. 187 | Tuesday, September 25, 2012

CEO of UPS Takeover Target Resigns

AP

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AMSTERDAM (AP) – Dutch express package delivery company TNT Express NV says its chief executive has resigned.

TNT is in the process of being acquired by United Parcel Service Inc. for $6.77 billion, pending negotiations with European regulators. TNT is Europe's second largest delivery company behind DHL.

Marie-Christine Lombard will quit work by the end of this month "to pursue an external career opportunity," the company said in a statement Monday.

Chief Financial Officer Bernard Bot will take her place as interim CEO, the company said.

TNT repeated it expects its takeover by UPS to be completed by early next year.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 95 460 14,043
MORTGAGES 101 520 16,304
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 198 1,098 29,161
BANKRUPTCIES 48 285 9,323
BUSINESS LICENSES 26 123 4,603
UTILITY CONNECTIONS 45 277 10,236
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