Australian express, transport and logistics company Toll Group today named its Chief FinancialOfficer Brian Kruger as successor to long-serving CEO Paul Little from next January.
Kruger will become the company’s managing director on 1 January 2012 on the retirement ofLittle, who has led the company for 25 years, the company’s board decided. The appointment followeda rigorous international search.
The CFO, who joined Toll two years ago, previously spent more than 25 years with the world’slargest miner and Australia’s largest steelmaker, and has extensive executive and operationalexperience, Toll said.
Chairman Ray Horsburgh said: “The Board congratulates Brian on his appointment. He has anoutstanding business pedigree and will be a highly capable successor to Paul. He has demonstratedhis capability in operational and financial roles in Australia as well as internationally. Brian isextremely well regarded at all levels of Toll for his management style which combines good processwith strong values.”
He added: “The Board took the strategic decision two years ago to increase the bench strengthof the internal executive ahead of Paul’s departure. Brian’s appointment as CFO, along with thecreation of six operational division heads across the Group, is a clear demonstration of thatstrategic approach.
Commenting on his appointment, Kruger said: “Being chosen to lead the Toll team is a realhonour. Toll is one of Australia’s great international success stories and to now have theopportunity to lead over 40,000 skilled logistics professionals across 55 countries is veryexciting. Paul has built an exceptional company over his 25 years as MD and I look forward totaking Toll through its next stage of development.”
Horsburgh also praised Little for his contribution to the company. “The board is deeplyappreciative of the contribution that Paul has made to Toll as MD since the management buyout in1986 and the company’s listing in 1993. During his time as MD, Paul has grown Toll from a smalldomestic trucking business with turnover of $16 million and 95 employees, to a global company withannual revenue of around $8 billion,” he pointed out.
Little welcomed the announcement: “I am thrilled that the Board has taken this decision.Brian is a superb executive, a particularly effective leader of people and the right person to headup the company at this time.” Little will re-join the Toll Group board as a non-executive directorsometime after the 2012 AGM.
