Tor Olav Trøim, the financial wizard that helped enable the many successes of Norwegian shipping tycoon John Fredriksen announced today his intentions to step down from the Seatankers Group, effective 31 July 2014.
The Seatankers Group is the management entity led by John Fredriksen that handles his plethora of investments in the shipping, offshore and seafood industries.
Trøim notes in a press release the decision to leave his full time position was to enable him to focus on the development of Golar LNG and Seadrill Ltd, yet allow him to provide independent investment and advisory services to the Seatankers Group.
Tor Olav Trøim and John Fredriksen say in a joint comment: “We have enjoyed 19 years of cooperation and are both pleased with the achievements we have made during this period. We look forward to continuing our successful partnership, albeit in a different format in the future.”
Mr Trøim will continue as Vice Chairman in Golar LNG Ltd. and Seadrill Ltd. He will also continue as Chairman of the board in Golar LNG Partners LP and Seadrill Partners LLC. In addition Mr Trøim will remain an ordinary Board member in SapuraKencana Petroleum Berhad and Archer Limited. He is furthermore expected to join the board of directors of North Atlantic Drilling Ltd.
As Fredriksen’s right hand man for nearly 20 years, Trøim added, “It has been a pleasure to work with great colleagues and some of the best management teams in the world to develop industry leading companies within the Shipping, Offshore and Salmon industry.”
With the new role, Trøim gained 3 million shares of Golar LNG, worth around $186 million as well as 2 million shares of Seadrill valued at around $72 million.
Shares in Golar LNG and Seadrill were down 1 percent and 1.87 percent, respectively on the news.
April 19 (Reuters) – A New York state agency on Friday said it had failed to reach final contract agreements with the developers of three major offshore wind projects, blaming a decision by General...
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
April 18, 2024
Total Views: 1199
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.