UTi Worldwide Sets Management Changes

UTi Worldwide said it has made several key executive changes to the logistics company’s organization, following a reported drop in its second-quarter profit.

UTi said Tuesday it appointed Edward Feitzinger executive vice president, global operations. Feitzinger, who was in charge of global contract logistics and distribution, has been with UTi since 2010.

The company also said that Ronald Berger was promoted to senior vice president, global operating processes and chief information officer.

UTi said earlier this month its fiscal second-quarter net income dropped to $18.9 million, or 18 cents a share, from $22.9 million, or 22 cents, a year earlier.

Revenue fell 10.9% to $1.15 billion for the quarter ended July 31, the air and freight forwarder said.

UTi blamed a weak air cargo market for lower revenue totals. Air freight revenue fell to $370.4 million from $465.7 million a year earlier.

UTi Worldwide is ranked No. 22 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.