Annual General Meeting 2008 approves all Board of Directors' proposals

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.

In their speeches, both the Chairman Rudolf W. Hug and CEO Monika Ribar acknowledged the convincing annual results of the financial year 2007. Monika Ribar also introduced the new members of the Executive Board. As announced on 29 April 2008, the Board has been expanded and reinforced to focus even more on the Group’s customers’ needs. This new structure will enable Panalpina to react more flexibly in today’s constantly changing global market. The ‘asset light model’ mentioned by Mr Hug is also in line with this strategy. Furthermore, Mr Hug stressed Panalpina’s role as a leader in the industry with regards to compliance.

Sound majority for all motions
The Annual General Meeting approved the annual report, the annual financial statements and the consolidated financial statements. 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 2007. The shareholders also followed the proposals to increase the dividend from the previous year’s CHF 3.00 to 3.20. KPMG AG, Zurich was elected as statutory and group auditor for the year 2008.

Additional member of the Board
Guenter Rohrmann was elected as a new member of the Board of Directors by a clear majority of the shareholders. With over 45 years in the industry, Guenter Rohrmann will strengthen the Board's expertise and industry know-how. Rudolf W. Hug, Günther Casjens, Yuichi Ishimaru and Glen R. Pringle were re-elected for a further 3 years’ term.

The next Annual General Meeting is scheduled for 5 May 2009.

The Panalpina Group
The Panalpina Group is one of the world's leading suppliers of forwarding and logistics services, specializing in inter¬continental air freight and ocean freight shipments and associated supply chain management solutions. Thanks to its in-depth industry know-how and state-of-the-art IT systems, Panalpina provides globally integrated door-to-door forwarding solutions tailored to its customers' individual needs. The Panalpina Group operates a close-knit network with some 500 branches in 90 countries. In a further 60 countries, it cooperates closely with partner companies. Panalpina employs over 15 000 people worldwide.