Hapag-Lloyd chief executive Rolf Habben Jansen has been rewarded for huge profits over the last year with a new contract.
The boss will be staying on until at least 31 March, 2027.
This is an early extension of his contract, the shipowner said.
In 2018, the board approved an extension of the CEO’s deal to 31 March, 2024.
The company has also stretched the term of chief financial officer Mark Frese by five years until 30 November, 2027.
Habben Jansen has been the CEO of the German container line since 2014.
“Rolf Habben Jansen has led Hapag-Lloyd successfully through challenging times,” said chairman Michael Behrendt.
“Today Hapag-Lloyd is one of the most profitable companies in the industry. The supervisory board is convinced that the company will continue its profitable growth under the successful leadership of Rolf Habben Jansen,” he added.
Frese joined the executive board in November 2019 and has been CFO since March 2020.
“Mark Frese has done an excellent job over the past three years,” the chairman said.
Profit has improved
“During his tenure, Hapag-Lloyd has further improved its profitability and optimised its balance sheet structure. It is also due to him that Hapag-Lloyd has a very healthy financial and asset base. This is an important prerequisite for the implementation of the strategic goals.”
The shipowner revealed net profit for 2021 of $10.8bn on Thursday, up from $1.1bn in the previous 12 months.
Fourth-quarter earnings jumped to $4.1bn, up from $463m in 2020, while revenue hit $8.4bn, against $4bn the year before.
The company is expecting to see a beginning of a normalisation of these huge earnings in the second half of 2022, as port congestion eases.
