Professional logistics and warehouse
Application online
+7 495 775 30 99
Moscow, Leningradsky prospect 47, building 2

DSV Cuts Panalpina Top Management

28 August 2019
Logistics News

Swiss logistics group Panalpina, which agreed to sell the Danish DSV business in the spring, said five of its top managers had resigned due to a decision by the new board to reduce the size of the Executive Board, TASS reported.

The new Board of Directors, appointed last week, abolished the positions of Commercial Director, Legal Director, IT Director, Executive Vice President of Air Freight and Executive Vice President of Ocean Freight. Three of the top managers were reassigned to new positions in the combined company.

Upcoming Panalpina management changes were tentatively announced last week when DSV completed the acquisition of Panalpina. The report noted that the merger of DSV and Panalpina will create one of the world's largest transport and logistics companies with revenue of approximately 118 billion Danish kroner. The integration process will take 2-3 years. DSV expects the merger to provide synergies by 2.2 billion Danish kroner per year by 2020.