Annual General Meeting 2011 approves all BoD proposals

May 10, 2011

The Annual General Meeting of Panalpina World Transport (Holding) Ltd., held on May 10, 2011, was attended by shareholders representing 55.04% of the share capital. All proposals of the Board of Directors were approved by a clear majority. Also elected with a clear majority were the new BoD members Lars Förberg and Knud Elmholdt Stubkjær.

Chairman Dr. Rudolf W. Hug emphasized the turnaround Panalpina achieved in 2010. CEO Monika Ribar highlighted – among other topics – the new products and services launched in 2010 and the corporate focus on a product-driven organization driven by its industry verticals. Looking ahead, she is cautiously optimistic as far as the business year 2011 is concerned. CFO Marco Gadola presented the key figures for the financial year 2010 and for the first quarter 2011.

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 2010. KPMG AG, Zurich was re-elected as statutory auditor for the year 2011.

New members on the Board of Directors

Chairman Dr. Rudolf W. Hug expressed his sincere thanks to BoD members Guenter Rohrmann, who did not run for re-election, and Günther Casjens, who resigned his mandate at the end of 2010. He praised their engagement for the benefit of the company. New members Lars Förberg and Knud Elmholdt Stubkjær were elected with a vast majority. Also clearly re-elected were Dr. Rudolf W. Hug, Chris E. Muntwyler, Dr. Roger Schmid, Dr. Hans-Peter Strodel and Dr. Beat Walti. All members were elected for a term of office of 1 year.

Board of Directors

The next Annual General Meeting is scheduled for May 8, 2012.

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.