Nystad, a 35 year company veteran, will step down today with a process underway to find his replacement.
Tore Jakobsen, chief executive of Odfjell, is unwilling to reveal further details of the departure, citing a confidentiality contract between Nystad and the Oslo-listed company.
However, Jakobsen stresses Odjfell Tankers will remain the core business of the group following today’s development.
The shipowner has over 40 owned vessels and a chartered fleet of almost equal size, with the tanker division accounting for 70% of the assets on its balance sheet.
Jakobsen
