Annual General Meeting 2010 approves all BOD proposals

The Annual General Meeting of Panalpina World Transport (Holding) Ltd., held on 4 May 2010, was well attended. The participating shareholders represented 59.54 % of the share capital. All proposals of the Board of Directors were approved by a clear majority. Also with a clear majority elected were the new BOD members Chris E. Muntwyler, Dr. Hans-Peter Strodel and Dr. Beat Walti.

Chairman Dr. Rudolf W. Hug announced the forthcoming settlement with the authorities in the USA. CEO Monika Ribar highlighted – among other topics – the healthy cost structure of the company. She emphasized that due to several initiatives taken in 2009, Panalpina will be able to participate from the economic upturn. Looking ahead, she is cautiously optimistic as far as the business year 2010 is concerned. CFO Marco Gadola presented the key figures of the financial year 2009 and of the first quarter 2010

Sound majority for all motions
The Annual General Meeting approved the annual report, the annual financial statements, the consolidated financial statements and the proposed changes in the articles of association of the company. It further granted discharge to the members of the Board of Directors as well as the members of the Executive Board for the financial year 2009. KPMG AG, Zurich was re-elected as statutory auditor for the year 2010.

New members of the BOD
Chairman Dr. Rudolf W. Hug expressed his sincere thanks to the BOD members Dr. Wilfried Rutz, Yuichi Ishimaru and Glen R. Pringle who did not run for re-election. He praised their engagement for the benefit of the company. With a vast majority elected were the new members Chris E. Muntwyler, Dr. Hans-Peter Strodel and Dr. Beat Walti. Clearly re-elected as well were Dr. Rudolf W. Hug, Günther Casjens, Guenter Rohrmann and Dr. Roger Schmid. All members were elected for a term of office of 1 year.

Board of Directors

The next Annual General Meeting is scheduled for 3 May 2011.

The Panalpina Group
The Panalpina Group is one of the world's leading suppliers of forwarding and logistics services, specializing in end-to-end supply chain management solutions and intercontinental air freight and ocean freight shipments. Thanks to its in-depth industry know-how and state-of-the-art IT systems, Panalpina provides globally integrated door-to-door forwarding services tailored to its customers' individual needs. The Panalpina Group operates a close-knit network with some 500 branches in over 80 countries. In a further 80 countries, it cooperates closely with partner companies. Panalpina employs approximately 13,500 people worldwide.