Annual General Meeting 2010 approves all BOD proposals

May 4, 2010

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.

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

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.