Swiss logistics giant Panalpina has nominated Rudolf Hug, 63, a doctor of laws with a background in international banking, to become chairman of the board on May 15, succeeding Gerhard Fischer, who has been with the company 42 years.

Mr Hug joined the board in 2005 when the company went public and has also been a member of its audit committee ever since. "Rudolf Hug possesses extensive management skills and experience and is ideally positioned to act as the new chairman thereby creating an optimum foundation for the group's further successful development," said the departing chairman, Mr Fischer.

From 1977-97, Mr Hug worked for Schweizerische Kreditanstalt, now a part of Credit Suisse, during which time he ran the international division and served as member of the executive board of Credit Suisse and Credit Suisse First Boston.

Since 1998, he has been active as an independent management consultant. He holds a PhD in law from the University of Zurich and an MBA from INSEAD, Fontainebleau, France.

Panalpina is one of the world's leading suppliers of forwarding and logistics services with 500 branches in 90 countries and 14,000 employees worldwide.