DHL CEO warns not to focus on short-term benefits of Brexit

Frank Appel, CEO of Deutsche Post DHL, told the BBC that while DHL might benefit from a no-deal Brexit in the short term, “we should not focus on short-term profits” as the outcome would be negative in the long term.

Speaking at the World Economic Forum in Davos, Appel had said that DHL might benefit from the immediate chaos of Brexit because it is “our business to manage complex situations”.

However, he argued against countries isolating themselves through trade barriers, which would particularly be an issue if the UK makes a no-deal departure from the EU.

“There is no country that ever succeeded by being alone,” said Appel. “The world has become more global.”

At the company’s annual general meeting last year, Appel voiced similar sentiments in response to the trade wars triggered by the US.

“The future is global,” he said. “Anything else is a misconception. If you build new barriers, you will not be successful in the long term. Walls are not the solution.”

At Davos, Appel predicted that the US-China trade war won’t last long enough to significantly damage the global economy.

DHL, said Appel, has started to execute plans for a no-deal Brexit. He also said that no UK ministers had been in touch to help with preparedness.

Source: BBC News