Annual Report 2010 (PDF, 5.2MB) - Panalpina Annual Report 2012

Sustainable Growth
CEO Statement
52
Sustainable business built on principles and values
In 2010, Panalpina overcame significant challenges related to corporate
culture and general economic conditions and, as a result, emerged stronger in
and market positioning.
A key factor in overcoming these obstacles was the company’s
redefined core values, built around the three principles
of Performance, Integrity, and Professionalism. These
principles were developed through a bottom-up process
that included workshops throughout the company and they
have been adopted by the Executive Board. The core values
have been translated into leadership competencies which
will form an integral part of performance agreements and
reviews with individual employees. With a global roll-out
poised to take place, these core values and principles will
support Panalpina in operating as a responsible and sustainable
company while further strengthening the culture we
are all proud of.
A key element of Performance is being profitable. Although
profitability is a goal that most businesses take for granted,
the actual pursuit of this goal requires the ability to source
the right information and make choices that can be difficult.
By increasing internal transparency of timely and accurate
information, Panalpina is objectively able to clearly assess
which business units, products, trading routes and client
relationships are profitable. The company has started to
make conscious choices to turn down activities and relationships
that dilute profitability and to make productivity
improvements in order to focus more intently on areas where
real value can be created both for its customers and for
Panalpina itself.
Practicing integrity includes ensuring compliance with rules
and regulations for ethical behavior. In 2010, Panalpina was
able to turn a new page in this regard after settling cases
resulting from past actions. Corruption and anti-trust cases
were settled with US authorities and anti-trust cases in
other regions are nearing closure. As a result, collaboration
with key customers has already strengthened significantly.
provide environmental solutions, such as low-carbon
shipping legs and detailed environmental impact information
for customers.
While professionalism is ensured through established,
in-depth training and education initiatives at Panalpina, in
the current market additional emphasis has to be placed
on flexibility. In the logistics industry in particular, the management
of change and uncertainty has become a clear
factor for success. Panalpina’s employees receive focused
support to help them understand and handle changes
such as the emergence of earlier, shorter, and flatter peak
seasons in freight transport and changing economic
patterns such as more volatile economic swings and the
partial decoupling of business cycles between economies
in transition and more mature markets.
Panalpina has conducted a focused internal and external
communication initiative to make all of its partners aware
of its enhanced positioning, which is the result of both
improving economic conditions and of strengthened values
and principles. While the rate of growth historically experienced
by Panalpina and the entire industry may remain
elusive in the immediate future, there is a clear opportunity
to forge a path of sustainable growth depending on the
respective region.
Monika Ribar
Chief Executive Officer
However, integrity means much more to Panalpina than just
ensuring compliance. It also includes respecting diversity,
which Panalpina clearly understands as an asset in its workforce
and in its ongoing commitment to the employees in
its network. It encompasses respect for the environment.
The PanGreen program addresses both Panalpina’s own
operations and its collaboration with contractors in order to
Panalpina Annual Report 2010