German billionaire Klaus-Michael Kuehne dies at age 89

German ​billionaire Klaus-Michael Kuehne, the ‌controlling shareholder of Swiss logistics group Kuehne + Nagel, has ‌died aged 89, ‌the company said on Monday.

Kuehne, the grandson of company ⁠co-founder ​August ⁠Kuehne, also held major stakes ⁠in German groups Lufthansa, Hapag-Lloyd ​and Brenntag. He became CEO ⁠of Kuehne and Nagel ⁠in ​1975 and was the chairman of ⁠its board of directors ⁠between ⁠1992 and 2011.