Rudolf W. Hug nominated as Chairman Designate

Apr 19, 2007

The Board of Directors of the global freight transport and logistics group Panalpina has appointed its member Rudolf W. Hug as new Chairman Designate. He will take office subsequent to the Annual General Meeting of 15 May 2007, succeeding Panalpina’s longstanding Chairman Gerhard Fischer, who will retire after 42 years with Panalpina.

Rudolf W. Hug, age 63, joined the Board of Directors in 2005 when the company went public and has also been a member of its Audit Committee since then. “Rudolf W. Hug possesses extensive management skills and experience and is ideally positioned to act as the new Chairman thereby creating an optimum foundation for the Group’s further successful development”, commented Chairman Gerhard Fischer.

From 1977 to 1997, Rudolf W. Hug worked in several positions for Schweizerische Kreditanstalt (today Credit Suisse). During the period from 1987 until 1997, he ran the international division and served as member of the executive board of Credit Suisse and Credit Suisse First Boston. Since 1998, Rudolf W. Hug has been active as an independent management consultant. He holds a PhD in law from the University of Zurich and an MBA from INSEAD, Fontainebleau (France).

About Panalpina

The Panalpina Group is one of the world's leading providers of supply chain solutions. The company combines its core products of Air Freight, Ocean Freight, and Logistics to deliver globally integrated, tailor-made end-to-end solutions. Drawing on in-depth industry know-how and customized IT systems, Panalpina manages the needs of its customers' supply chains, no matter how demanding they might be. Energy Solutions is a specialized service for the energy and capital projects sector. The Panalpina Group operates a global network with some 500 offices in more than 75 countries, and it works with partner companies in a further 90 countries. Panalpina employs 15,000 people worldwide who deliver a comprehensive service to the highest quality standards – wherever and whenever.