Successfully manages impact by economic decline, currency fluctuations, and Nigeria
Panalpina will concentrate its future activities in Nigeria on transport services up to arrival port or airport. All domestic services, including customs clearance, have been discontinued.
The global forwarding and logistics group Panalpina has appointed Sven Hoemmken (44) as Head of its global Supply Chain Management sector, based at Group headquarters in Basel. He is to begin work in his new position on 1 December and will report directly to the Chief Marketing & Sales and Supply Chain Management Officer, Sandro Knecht.
On 2 September 2008, global forwarding and logistics company Panalpina concluded the share buyback program that was initiated in August 2007. As planned, a total of 1.25 million shares were repurchased.
The company will withdraw its domestic services from Nigeria later this year
The global freight transport and logistics group Panalpina offers its customers a new service that responds to the growing demand for flexible air freight solutions. This exclusive service offers Panalpina’s first direct freighter link from Hungary, into Russia and Hong Kong
As part of the ongoing modernization of its IT environment, Panalpina has taken a huge leap forward and replaced its freight forwarding applications for its ocean and air freight businesses. Following an in-depth assessment, the global forwarding and logistics company decided in favour of a solution offered by its long-standing partner SAP.
The Annual General Meeting of Panalpina World Transport (Holding) Ltd., held on 6 May 2008, was well attended once again. The participating shareholders represented 47,79% of the share capital. All motions proposed by the Board of Directors were approved by a clear majority.
Strengthening of the Executive Board and management structures
Compared to the 1st quarter 2007, the global transport and logistics group Panalpina has increased its net forwarding revenue in the first three months of 2008, but reports lower net earnings.
The global transport and logistics group Panalpina offers its customers a new service linking its worldwide network with Latin America. Together with its partner Centurion Air Cargo, Panalpina serves destinations in Latin America via the gateway in Miami, Florida.
Continued organic above-market growth – Leading industry position in compliance matters as strategic strength
The global freight forwarding and logistics group Panalpina has appointed Marco Gadola (44) as new Chief Financial Officer (CFO) and member of the Executive Board. He will take office in autumn 2008.
John Klompers, Chief Marketing & Sales Officer and member of the Company’s Executive Board, is leaving Panalpina to pursue other professional challenges after having been with the company for 13 years. He has been released from his current responsibilities by mutual agreement. Panalpina thanks John Klompers for his great effort and contribution. A decision related to this position will be taken after the current review of group structures has been finalized.