Panalpina’s board of directors has nominated Peter Ulber as the company’s new chairman in succession to Dr Rudolf W Hug. He is expected to be elected at the company’s annual meeting on 10th May.
Stefan Karlen, who is currently the regional CEO for Asia Pacific, has been designated to succeed Ulber as the company’s next CEO. After the AGM, Ulber would continue as CEO until Karlen takes over later in 2016.
Ulber has been president and CEO of the Panalpina since 2013. He previously held senior management positions at Kuehne + Nagel. Between 2001 and 2008 he was based in London, first as UK national manager then as regional director for North West Europe.
“Panalpina is now a fundamentally stronger company, making this the ideal time for me to concentrate on the strategic development and future direction of the group by handing over the day-to-day responsibilities to Stefan Karlen,” said Ulber.
Panalpina produced an EBIT of CHF 117.2 million (£84,149,600) in 2015 – up from CHF 116.7m (£83,790,600) the year before. Revenue was down from CHF 6.7bn (£4.8bn) in 2014 to CHF 5.8bn (£4.1bn) last year.
“We have maintained profitability in a year that was characterised by a soft market, the low oil price, negative currency impacts and high IT investments on our end,” said CEO Peter Ulber. “The results prove our resilience in more difficult times. Excluding currency effects, EBIT even increased by 15 per cent.”