Despite some uncertainty following the DSV deal, Panalpina chairman Peter Ulber is resolved to quit the board.
Thomas Kern (pictured above), chair of Panalpina’s independent board of directors, set up to assess the takeover bid, is expected to take his place at the May 9 annual general meeting.
Panalpina said Mr Kern had “headed the final phase of evaluating the company’s strategic options, which eventually led to the decision to recommend the transaction with DSV.”
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Source: The Loadstar