Danish family-owned bunker and tanker group United Shipping & Trading (USTC) is bringing in the founder of one of the country’s largest investment firms to strengthen its board as former J Lauritzen chief Torben Janholt stands down.
Finance and investment expert Jeppe Christiansen, founder of private equity and asset management firm Maj Invest, will join the USTC directors as the group seeks to bolster and diversify its company boards.
USTC said the driving force behind the board changes comes largely from second-generation co-owner Mia Ostergaard Rechnitzer who in 2021 joined as head of corporate governance, and since May 2022 has held the role of chief governance officer.
“There is no doubt that developing the strategic leadership of our companies is necessary to continue our ambitious commercial growth targets; especially considering the increasing demands for companies to act responsibly, taking care of the environment and prioritising equality and diversity in the workforce,” she said.
The new board will consist of chairman Torben Ostergaard-Nielsen, deputy chairman Klaus Nyborg and Nina Ostergaard Borris, Mia Ostergaard Rechnitzer, Peter Appel and Jeppe Christiansen.
Janholt is leaving after many years on USTC’s board as the 76-year-old chooses to scale down his board work.
Peter Korsholm is also leaving the board to pursue other challenges, including a new role as chairman of listed decoration company Flugger Group.
In June USTC reported a doubling of pre-tax profits to $159m, and the group has expanded into different areas with the acquisitions of Freja Transport & Logistics and CM Biomass.
USTC’s shipping businesses include Uni-Tankers and Bunker Holding.
