DERMAUX OUSTED AS CEO OF ABX LOGISTICS
Jean-Louis Dermaux was ousted as chief executive officer of ABX Logistics, the third-party logistics transportation firm of the state-run Belgian National Railway.
Etienne Schouppe, chief executive of the railway and executive chairman of ABX Logistics, will oversee day-to-day operations at the Brussels-based logistics firm until a replacement for Dermaux is found.
Prior to ABX, Dermaux worked for French logistics provider Groupe Dubois. He joined the Belgian National Railway in 1992 to set up ABX, formerly a small packages division of the railroad. He first organized ABX Logistics in Belgium and starting in 1998 began its international expansions.
ABX has acquired about 20 logistics firms during the past three years, making it quickly one of the largest logistics operations in Europe. The firm generated about 2.95 billion euro ($2.52 billion) in turnover last year, but it has failed to generate a profit.