Failings at Deutsche Post-DHL that led to a cut in its earnings forecast for 2018 by €1bn were “homemade”, according to chief executive Frank Appel.
At the logistics giant’s annual general meeting this morning, he pointed to an operating model that had “become too distracted by gaining market share”.
He said: “2018 was an exception; we did not meet our forecast, Deutsche Post shares lost 42%, and there is no escaping these …
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Source: The Loadstar