After seven years, Monika Ribar, CEO of freight forwarding company Panalpina, will step down at the end of May.
Former Kuehne + Nagel management board member Peter Ulber (pictured above) will succeed her June 1.
This change in CEO has been planned by the board of directors of Panalpina World Transport (Holding) Ltd and Ribar as part of the company’s on-going succession process.
Ribar already serves on other companies’ boards of directors and plans to focus more on those roles.
She has been a member of Panalpina’s management for almost 23 years.
“Monika Ribar deserves high praise for the secure legacy she will leave at Panalpina. The Board of Directors expresses its sincere gratitude and appreciation to her,” Rudolf W. Hug, chairman of the board of directors, said. “She has guided the enterprise through one of the most difficult phases of its recent history and successfully geared it towards the new challenges.”