Siem Shipping's chief operating officer (COO) Kenneth Ross has been promoted to CEO.

The Oslo-listed reefer company said the 47-year-old has been COO since October 2008 and has been with the company since 1998.

The move is "part of its management succession programme", it added.

Before joining Siem, he was with Vestey Group, owner of Blue Star Line.

The company said: "Simon Stevens is handing over to Kenneth Ross a company that is in good shape and we are grateful to Simon Stevens for his dedication and contribution for developing the company".

Siem