Private equity investment fund Mid Europa Partners (MEP) further increased its shareholding in the company in June, and currently holds 97.1% of the total share capital. The latest transaction was recently approved by the competition authorities both in Hungary and other countries concerned, the press release recalled.
The AGM decided to revert to the original form of operation, converting the public limited company (Nyrt.) into a private limited one (Zrt.), and elected a new Board of Directors. The newly appointed chairman of the five-member Board is Miklós Bethlen, partner and head of the Budapest office of MEP.
The two new members of the Board are Dr. Péter Lakatos, partner of Lakatos, Köves and Partners, a law firm which also managed the transaction, and the Dutch Gerard van Kesteren, former CFO of Kuehne + Nagel, one of the leading global logistics companies. The two additional members of the Board, delegated earlier, are Csanád Dániel, investment executive of MEP, and Stefan Delacher, who has served on the company’s Board since 2011.
The July 29 AGM confirmed Ferenc Lajkó as CEO, who had been designated for this role since the transaction, having previously served as deputy CEO. Lajkó, who holds a degree in transport and business management, gained leadership experience at the one-time Hungarocamion in the field of international road transportation, according to the press statement. Following the acquisition of Hungarocamion by Waberer’s, he served in senior positions as managing director, head of the international division and as deputy CEO.
Barna Erdélyi, CFO of Waberer’s since 2014, has been promoted to the position of general deputy CEO of the company. Erdélyi holds a degree in economics, and previously worked in various senior positions in public transport companies in Hungary. He was also senior financial advisor at PwC, accumulating over 12 years of experience in the financial and freight management sectors.
The resolutions of the AGM regarding the senior leadership of the company highlight the continuity of Waberer’s operations, the press release said. The majority shareholder has confirmed its support of the management team in achieving the company’s business objectives: further accelerating the Hungary-based company’s growth and developing it into a major European brand in international FTL transport and a regional leader in warehousing and logistic, the statement added.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
