Logistics tycoon Klaus-Michael Kuehne dies at 89
AgenciesGerman investor Klaus-Michael Kuehne, the controlling shareholder of Swiss logistics group Kuehne + Nagel, has died aged 89, the company said on Monday. Kuehne, the grandso...
Klaus-Michael Kuehne, the founder of Swiss logistics firm Kuehne + Nagel, passed away on Monday at the age of 89, according to the company's announcement. The son of the company's co-founder, Kuehne was also a significant shareholder in several other German corporations, including Lufthansa, Hapag-Lloyd, and Brenntag, as well as the transportation company Flix.
As a prominent figure in the global shipping and logistics industry, Kuehne played a pivotal role in expanding Kuehne + Nagel from a family freight forwarding business to one of the world's largest logistics groups. Forbes estimates his wealth to be over $44.2 billion.
Kuehne assumed his position as CEO of Kuehne and Nagel in 1975 and served as board chairman from 1992 until 2011. Recognizing the need to avoid a merger with a global competitor, he led a group of investors to acquire Hapag-Lloyd's Hamburg-based container shipping business in 2008. Known for his strong family connections to northern Germany, Kuehne also made a notable investment in German airline Lufthansa, securing 20 percent of its voting rights.
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- Kuehne+Nagel mourns loss of Klaus-Michael Kühne dhakatribune.com
- German billionaire Klaus-Michael Kuehne dies at age 89 dailymaverick.co.za
