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            july 21, 2019

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Panalpina elects Thomas Kern chairman


Swiss forwarding giant Panalpina has elected Thomas Kern, a Swiss national, as chairman of the company expected to merge with Danish forwarding giant DSV pending regulatory approval.
He succeeds Peter Ulber, who announced in 2018 that he would not stand for re-election. All other board members were re-elected for another one-year term of office.
At the annual general meeting all proposals of the board of directors were approved by a clear majority.
The meeting approved the financial statements. In view of the public exchange offer submitted by DSV, it was decided that no dividend will be paid out to shareholders in 2019.

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