Cargo-partner chief executive prepares to step down

cargo-partner is considering its future ownership structure as founder, chairman and chief executive Stefan Krauter prepares to step down.

Karin Schwarz, corporate director of communications and marketing at the Austria-based company confirmed the plans that a decision on new ownership of the company has not yet been made.

Schwarz said: “It is true that our Chairman is planning to phase out and the succession has been well prepared over the last two years.

“The chairman and the executive board are evaluating the best possible strategic options for the foreseeable future of cargo-partner.

“This includes various capital raising options and is not limited to a wholly or partial change of controlling ownership.”

She added: “We have a capable management team in place, excellent employees and sustainable systems. We are not near to taking a decision now.”

Headquartered in Fischamend, near Vienna Airport, cargo-partner achieved a record turnover of €1.8bn in 2021.

The strongest growth was seen in airfreight, where tonnage rose from over 180,000 tons to just under 240,000 tons in 2021, an increase of over 32%.

cargo-partner offers air, sea, land transport and warehousing solutions.

The company has over 130 locations and over 40 country branches in western, central and eastern Europe, north and southeast Asia, on the Indian subcontinent, in Oceania and in the US.