The chairman of TNT Express has sharply criticised Marie-Christine Lombard for her suddenresignation as CEO on Monday but she has defended herself vigorously from the attack.
Antony Burgmans, head of the Dutch express company’s supervisory board, told a Dutchnewspaper that he was “disappointed” at her decision to resign in favour of a new job mid-waythrough the agreed takeover by UPS and ahead of the expected European Commission approval for the€5.16 billion offer.
“What she has done is unethical,” he said. “She is leaving a company with 70,000 workers inthe lurch. It also breaks our agreement. We had an agreement she would remain until six monthsafter the takeover had been completed.”
Burgmans told the Financieele Dagblad yesterday that Lombard would no longer be entitled toclaim a €2.5 million payment resulting from a successful takeover and a further payment for headingintegration of TNT Express into UPS.
Separately, the Financial Times reported that TNT will hold Lombard to the ‘non-compete’clause of her contract, preventing her from working for a competitor, and that she would notreceive a special departure package.
But today Lombard defended her move in an interview with the same newspaper and denied therewas any ‘breach of contract’. She said she did not deserve the criticism after 20 years with thecompany and stressed she had the right to move to a new job now.
“I cannot wait forever. My role has been played out at TNT Express,” she commented. Now wasthe right time to depart rather than last March when the UPS deal was announced, she stressed. “IfI had left then, everyone would have said “you see, it’s not a good deal”,” she commented.
Lombard pointed out that she had passed up the chance for a €2.5 million payment when the UPSdeal was completed but declined to say what new job she would take up.
On Monday (September 24), TNT announced Lombard was leaving to pursue an external careeropportunity and would be replaced by CFO Bernard Bot as interim CEO.
TNT and UPS expect their merger to be approved by the European Commission in early 2013.However, EU competition commissioner Joaquin Almunia said last week the EU anti-trust body, whichis reviewing the deal, would adopt objections if necessary. These could require disposals of partsof TNT’s business activities.
