THE FORMER FD of collapsed delivery business City Link has joined a major rival.
Robert Peto, who had served as FD of City Link until it entered administration at Christmas, has joined TNT UK in the same role.
Peto has experience in transport and logistics, having also held roles with Parcelforce and Geopost UK.
Jon Downing retires after 30 years as TNT’s UK finance chief.
Peto joins TNT UK at a fascinating time: a €4.4bn (£3.2bn) deal for the purchase of TNT by FedEx has been conditionally agreed, it was announced yesterday. TNT had previously announced a £39m loss for Q4 2014, and a several hundred million Euro restructuring plan.
He has said it is “an exciting time for TNT in the UK and globally”.