Damco Promotes Nicholas Kyrzakos

Former global CFO takes leadership responsibility as CEO of company’s Eastern European region

Madison, N.J.—April 24, 2012—Third-party logistics provider Damco divided its Europe operations in two regions—East Europe and West Europe—to enable the right focus on different market priorities. The decision is made in order to deliver growth, profitability and the goals of the overall strategy. As a result of the division, former global chief financial officer Nicholas Kyrzakos will lead the Eastern Europe region as Chief Executive Officer.

“This is a very exciting opportunity,” said Nicholas Kyrzakos, Chief Executive Officer, Damco. “The European markets are full of very big challenges and I am looking forward to be working to bring Damco to its full potential in the countries in the Eastern region.”

Flemming Frost will remain as Chief Executive Officer of Damco’s West Europe region. Both East and West CEO’s will report to Rolf Habben-Jansen, Chief Executive Officer, Damco Global.

“The complexity of the European markets is large and diverse and in order to be successful in these markets there is a need to work with quite different strategies between the more mature and the growth markets,” said Rolf Habben-Jansen. ““I am happy that Nicholas has agreed to take responsibility as CEO of Eastern Europe and I am confident that this will ensure efficient decision making and a high level of focus.”

Kyrzakos brings more than 25 years of senior finance and management experience, extensive international business exposure and a history of dealing with complex challenges. He holds an MBA in Finance.