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.
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.
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.