The Board of Directors of Panalpina has received an unsolicited, non-binding proposal from DSV to acquire the company at a price of CHF 170 per share, comprising a mix of cash and DSV shares. According to its fiduciary duties, the Board of Directors of Panalpina is reviewing the proposal in conjunction with its professional advisers.
In the light of the above, Christian Stingl has joined Panalpina on January 14, 2019 as regional head of marketing and sales for Europe. He will be based in Frankfurt and report directly to the regional CEO Europe with a dotted line to the chief commercial officer.
Christian Stingl is a results-driven senior executive with vast experience in the logistics industry. He has a proven track record of driving profitability at Danzas, DHL, DB Schenker, and Ceva Logistics, where he worked for the last four years as vice president Freight Germany. He holds a bachelor degree Professional of Transport Management (CCI) and a degree in General Management for Leadership from St. Gallen Business School.
The Panalpina Group is one of the world’s leading providers of supply chain solutions. The company combines its core products – Air Freight, Ocean Freight, and Logistics and Manufacturing – to deliver globally integrated, tailor-made end-to-end solutions for twelve core industries. It operates a global network with some 500 offices in around 70 countries and works with partner companies in another 100 countries. Panalpina employs approximately 14,000 people worldwide.