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.. RESHAPING THE BUSINESS N t h si a n s ce g p o r n iv e ati th s r a o t u o g n h . A se m v a e jo r r al re r - e o s rg tr a u n c is t a u ti r o e n s

10th August 1995, Page 37
10th August 1995
Page 37
Page 37, 10th August 1995 — .. RESHAPING THE BUSINESS N t h si a n s ce g p o r n iv e ati th s r a o t u o g n h . A se m v a e jo r r al re r - e o s rg tr a u n c is t a u ti r o e n s
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Keywords : Exel, Business / Finance

preceded the flotation in 1989, and established four main trading divisions. The McKinsey report of 1991 marked the end of the regional BRS companies and the repositioning of the car delivery and petrochemical businesses alongside the BRS group. In 1993, BRS and Exel Logistics were rationalised and merged into a "single UK team", which cost the best part of £28 million.

The latest restructure will cost £35M to implement and is expected to cut jobs, and dispose of loss making parts of the business. There are three new regional units. These are: UK and Ireland, led by 'Ferry Stockley who joined from BET; Continental Europe, led by NFC's Graham Roberts who was chairman of Exel in Europe; North America, which is to recruit a chief executive from outside the group. All three will report to new group chief executive, Gerry Murphy. It is the biggest single introduction of new blood among senior NFC family members.

Two separate worldwide supervisory boards, for Logistics, and Moving Services, have also been created.

Murphy says the changes will not disrupt the potential for winning new business or extending existing commitments:"Customers themselves are subject to the pressures of commercial life and therefore understand that companies go through these processes from time to time."


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