• Thomas E. Kern. Photo: Panalpina


Artikel Nummer: 27282

Panalpina board announces AGM-related proposals

Panalpina’s board of directors proposes to elect Thomas E. Kern as chairman of the board at the upcoming annual general meeting to be held on 9 May. Kern currently chairs Panalpina’s independent board of directors. He headed the final phase of evaluating the company’s strategic Options, which then eventually led to the decision to recommend the transaction with DSV.


Kern was elected to the Swiss service provider's board of directors in 2015. If elected at the AGM, he will succeed Peter Ulber as chairman.


In view of the recently announced public exchange offer submitted by DSV, which is based on a defined exchange ratio of Panalpina shares against DSV shares, Panalpina’s board of directors also proposes that no dividend be paid out to shareholders in 2019. A dividend payment would be qualified as having a dilutive effect, which would lead to an adjustment of the offered exchange ratio. (mw)




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