NOL announces new CEO For APL Logistics

Singapore, Oakland CA, London, 23 September, 2002 — Neptune Orient Lines (NOL) today announced that its CEO of APL Logistics (APLL), Dick Metzler, is leaving the Company and that NOL Group Chief Information Officer, Hans Hickler, has been named CEO, APL Logistics.

APL Logistics specializes in global, end-to-end supply chain management and is based in Oakland, California. It is the sister company of APL. Both are subsidiaries of Singapore-based NOL.

Dick Metzler was recruited to APLL in June, 2000 to build a high growth, differentiated, global supply chain services business. “Having accomplished this and having completed his initial two year commitment, Dick has decided to leave the company to fully evaluate other opportunities,” President and CEO of NOL, Flemming Jacobs said today.

“We have worked together on an agreement whereby Dick will assist in the transition to the new CEO and consult as needed later on.

“I am delighted that Hans Hickler is taking on this new role,” Mr Jacobs said. “Hans is a talented and energetic executive who has served on the Executive Management Committees of both APL and the NOL Group, and he is well-positioned to step up to the role of CEO. His extensive managerial experience and his expertise as CIO will be real strengths as he further builds this asset-light and IT-focused business.”

Mr Jacobs added that Mr Hickler would in the meantime maintain oversight of the Group’s IT activities with the day-to-day responsibilities remaining with APL CIO Cindy Stoddard and APLL CIO Mike Moore.

“Key people leaving is always a challenge for any business, but we realise experienced people are going to be targets for others, and are fortunate that we increasingly have home grown talent to take on increased responsibilities,” Mr Jacobs said.

“We thank Dick for his hard work and vision for the company over the past two years and we wish him well for the future. His achievements are appreciated and will form a strong base for APL Logistics’ further growth.”

Mr. Metzler’s last official day as CEO is 11 October.

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