Annual general meeting 2016 approves all board proposals

At the annual general meeting of Panalpina World Transport (Holding) Ltd., held on May 10, 2016, 64.97% of the share capital was represented. All proposals of the board of directors were approved by a clear majority and Peter Ulber was confirmed as Panalpina’s new chairman of the board of directors.

The annual general meeting approved the annual report, the annual financial statements, the consolidated 2015 financial statements and the distribution of a gross dividend of CHF 3.5 per nominal share. The dividend will be distributed on May 17, 2016.

The assembly granted discharge to all members of the board of directors and the members of the executive board for financial year 2015.

Peter Ulber confirmed as new chairman of the board of directors

Furthermore, the assembly elected Peter Ulber as Panalpina’s new chairman of the board of directors. He succeeds Dr Rudolf W. Hug who has served as chairman since 2007 and did not stand for re-election due to the age limitation in the company’s regulations. Ulber will continue as Panalpina’s CEO until Stefan Karlen, his designated successor, takes over on September 1, 2016.

In an advisory vote, the assembly endorsed the 2015 compensation report. The proposed maximum compensation of the board of directors up until the 2017 annual general meeting and of the executive board for financial year 2017 was likewise approved.

The compensation committee and the independent proxy were elected as proposed by the board of directors. Finally, KPMG AG, Zurich, was re-elected as statutory auditor for financial year 2016.

The next annual general meeting is scheduled for May 3, 2017.