Hapag-Lloyd CFO Steps Down Following CSAV Merger

Photo: Hapag-Lloyd
Photo: Hapag-Lloyd

Hapag-Lloyd’s Chief Financial Officer Peter Ganz told the group’s Supervisory Board today that he would be stepping down from his post and leaving the company effective April 1.

Peter Ganz has held the position since he joined the company in 2009 from TUI AG.

His resignation comes following the completion of Hapag-Lloyd’s recent merger with Chilean shipping company CSAV in December, which stipulated that as the largest shareholder CSAV would be able to nominate the CFO.

The merger resulted in the creation of the world’s fourth largest container shipping company, with around 200 vessels for a combined capacity of approximately one million TEU.

In a statement, Hapag-Lloyd thanked Ganz for his years of hard work, as well as for seeing through the completion of the merger and last year’s financial statements.

We owe Peter Ganz a great debt of gratitude – in a situation that has not been easy for him – not only for seeing the merger of Hapag-Lloyd and CSAV through to the closing, but also for being willing to complete the annual financial statements,” said Michael Behrendt, Chairman of the Supervisory Board of Hapag-Lloyd AG. “During his six-year tenure as CFO, Peter Ganz made a decisive contribution to securing and strengthening Hapag-Lloyd’s future viability and competitiveness. Particularly during the financial and shipping crisis of 2009, Peter Ganz initially played a crucial role in the restructuring and refinancing of Hapag-Lloyd. Thereafter, he laid the groundwork for gaining access to capital markets and ensuring that Hapag-Lloyd had the financing it needed for growth. Furthermore, with great personal dedication, he contributed significantly to the successful merger of Hapag-Lloyd and CSAV.”

As his successor, Hapag Lloyd’s Supervisory Board has selected Nicolas Burr, CFO of CSAV from 2012 until 2015. The 39-year-old Chilean native previously held management positions at a number of companies in Santiago, Buenos Aires and Wilmington (USA) after earning his MBA from MIT.

“With Nicolas Burr we have been able to obtain an outstanding leader for Hapag-Lloyd. The Supervisory Board is convinced that the Executive Board is superbly positioned to jointly tackle the range of challenges facing Hapag-Lloyd,” said Michael Behrendt.