Odfjell Replaces CEO after Differences over Strategy

Published Dec 9, 2014 3:22 AM by The Maritime Executive

Due to different views on the strategic direction for the company, the board of Odfjell and Jan A. Hammer have agreed that he will step down as president/CEO with immediate effect.

The board has appointed Tore Jakobsen as new president/CEO for an interim period. He has been member of Odfjell's management group since 2005 where he has served as senior vice president, corporate investments. Previously Jakobsen was president/CEO of Westfal-Larsen & Co. He is 63 years old and holds a Master in Economics and Business Administration.

Odfjell posted a loss of $9m in the quarter ending in September compared to a profit of $9m for the same time last year. However, revenue increased as a result of the strong performance of the company’s chemical tanker business.

A joint venture for Odfjell’s entry into the LPG/ethylene vessel business was finalized at the end of September.

The products and services herein described in this press release are not endorsed by The Maritime Executive.