Panalpina's executive VP for Ocean Freight, Peder Winther, has stepped down from the Swiss-based company. CIO Ralf Morawietz has also left the company following the merger with DSV, informs Panalpina in a statement.

On Monday, ShippingWatch reported that five executive positions have been eliminated at Panalpina after DSV last week formally acquired the company. Though three of the executives will continue at the new company, on Monday it remained unclear what would happen for Winther and Morawietz.