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'Different views' at Odfjell bring Hammer down

'Different views' at Odfjell bring Hammer down
Odfjell president and ceo Jan Hammer has stepped down with immediate effect over his views on the company's future.

In a statement issued this morning, the tanker and tank terminal company announced that Hammer will be replaced by interim ceo and president Tore Jakobsen "due to different views on the strategic direction for the company."

Jakobsen is 63 years old, has been part of Odfjelll's management since 2005 and previously served as president and ceo of Westfal-Larsen & Co.

Odfjell has been continually troubled by disruption and losses at its Rotterdam terminal in recent years after a string of safety and maintenance failings, including unreported leaks, were reported by whistleblowers.

In its third quarter results the company reported a year to date loss of $57m. Odfjell reported a net loss of $108m in 2013, including a $76m impairment for the Rotterdam terminal.

TAGS: Tankers Ports