Bruce Barnard, Special Correspondent | Dec 09, 2011 11:56AM EST
Panalpina will create three regional CEO positions, with one chief position each for the divisions of Europe and the Middle East, the Asia-Pacific and the Americas, as the Swiss logistics group works to increase productivity and get closer to customers.
“We need to shift power of decision from corporate headquarters in Basel closer to where our customers do business,” said CEO Monika Ribar. “If we want to exploit trade lanes out of Asia, we need to win more local customers there. This is turn requires more local decision-taking.”
Marco Gadola, current chief financial officer, will become regional CEO of the Asia-Pacific, and Volker Boehringer, currently manager of central Europe, will become CEO of Europe and the Middle East.
Panalpina said the search for a CEO for the Americas and a new CFO is under way. The changes will come into effect in the first half of 2012.
The new jobs follow the unveiling of Panalpina’s corporate strategy in July, which set several targets, including a “remarkable” increase in operating profit margin to 20 percent in 2014 from 14 percent in 2010. Ribar has vowed Panalpina will outperform market growth of ocean and air freight and logistics through 2014.
-- Contact Bruce Barnard at brucebarndard47@hotmail.com.
