SWISS forwarding giant Panalpina has nominated CEO Peter Ulber, 56, as the chairman, succeeding Rudolf Hug, 72 from May 10, the date of the next annual general meeting.
Stefan Karlen, 42, currently Asia Pacific chief, becomes the new CEO succeeding Mr Ulber, who will remain chief executive after the AGM until Mr Karlen is available to take over later in the year.
Panalpina vice chairman Beat Walti, speaking on behalf of controlling shareholder Ernst Gohner Foundation, said: "During his tenure, Dr Hug was instrumental in setting the strategy for Panalpina and turning it into the highly professional and bottom-line focused company it is today.
"Peter Ulber's nomination will ensure continuity and a seamless transition; and we are convinced that he will be a most capable chairman,"
Said Dr Hug: "The board and I are confident that Peter Ulber, with his extensive knowledge of the industry, is the right candidate to guarantee the future growth and success for Panalpina.
"After almost a decade at Panalpina's helm, I leave knowing that the company will be in good hands and well positioned to deliver long-term value," he said.
A German, Mr Ulber joined Panalpina in 2013 as president and CEO on the departure of Monika Ribar, who had been chief executive for seven years, having served in various management roles in the company for more than two decades.
Previously, Mr Ulber held management positions from 1985 to 2011 at Kuehne + Nagel in Europe, as well as North and South America. He was appointed to the international management board in 2008, and was responsible for sea freight and air freight, as well as the global sales organisation.
Said Mr Ulber: "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."
A Swiss, Mr Karlen joined Panalpina in 1997 and has held various positions spanning across Europe, Africa, Central Asia and Asia Pacific. He played a key role in Panalpina's international expansion. In 2012, he became the managing director for South East Asia before assuming the position of Regional CEO for Asia Pacific in 2013
"Stefan Karlen's proven track record of delivering results and in-depth knowledge of the freight forwarding and logistics industry, coupled with him having successfully lead Asia Pacific, Panalpina's most dynamic region, for the last three years makes him a formidable candidate," Mr Ulber said.
Source : HKSG.