Management change in the Torvald Klaveness Group

Oslo, August 18, 2011. Lasse Kristoffersen appointed new Chief Executive Officer for the Torvald Klaveness Group, Trond Harald Klaveness to become Chairman of The Board.


Trond Harald Klaveness, CEO and owner of the Torvald Klaveness Group, has decided that he will take up the position of Chairman of the Board of the Group and resign from his position as CEO. Lasse Kristoffersen has been appointed new CEO and thus becomes the first Group CEO from outside the Klaveness family. The changes will be effective September 1st, 2011. Lasse Kristoffersen has been President and head of the business unit Klaveness Maritime Logistics since 2007.

"As sole owner, I prefer to take the role of Chairman of the Board, which will give me the time and resources to focus on the strategic development of the Group, in close cooperation with Lasse", says Trond Harald Klaveness. He adds: "This is a logical development for the firm following the demerger that my brother and I agreed on earlier this year".

In March, the Torvald Klaveness Group announced that the company would be split and that the operating shipping activities would be continued under Trond Harald Klaveness' ownership and leadership while the investment activities would be taken over by Tom Erik Klaveness. The demerger will be completed on September 1st.

"I am proud and happy about the offer to lead this well-respected family-owned shipping business and look forward to developing the company further in close cooperation with Trond Harald and our dedicated and professional employees and loyal customers", says Lasse Kristoffersen.

Group CFO Baard Haugen has announced that he has been offered and has accepted a position outside the Group. He will, on his resignation later this autumn, be elected to the Board of Directors. The process of recruiting a new CFO has been started.

The remaining management group members will continue in their present roles. The management and the Board will, during the next six months, discuss and decide on the future strategy for the Group.