DSV has moved to omit "Panalpina" from its company name two years after its acquisition of the forwarder.
The forwarder said the decision to use DSV instead of DSV Panalpina was approved by shareholders at an extraordinary general meeting earlier held on September 8.
“Since 2019, DSV Panalpina A/S has been the name of the parent company of the global transport and logistics company but with effect from today, the company’s shareholders have approved a name change proposal by the Board of Directors to return to the previous name of the parent entity – DSV A/S,” DSV said.
The forwarder noted that the decision was made following its recent acquisition of Agility’s Global Integrated Logistics business in August.
“DSV will undergo its most significant change of the business since the acquisition of Panalpina in 2019,” it said.
“With this change, the timing is right to change the name of the parent entity back to DSV A/S and secure brand consistency across all markets and operations,” it added.
During the meeting, DSV also nominated Tarek Sultan Al-Essa as a representative from Agility to its board of directors following the deal to takeover GIL, which will make Agility an 8% shareholder in DSV.
“Tarek Sultan is currently the vice chairman of Agility and at the same time, he holds positions as a member of the board of trustees, Kuwait’s Silk City and Boubyan Island Development Project,” it added.