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Jacob Stolt-Nielsen retires

Jacob Stolt-Nielsen, founder of Stolt-Nielsen Ltd will retire from the company's board on 15 December.

His decision brings to an end a 55-year career at the company, which he founded in 1959, although 83-year old Stolt-Nielsen will continue as honorary chairman.

In a statement announcing the director's retirement, Stolt-Nielsen Ltd. gave a history of the decisions made by its founder that shaped the company into what it is today: "Mr. Stolt-Nielsen... conceived the innovative designs that led to the creation of the first parcel tanker. After founding Parcel Tankers, Inc. in 1959, he pioneered the global trade for liquid chemicals, building the world's largest chemical tanker company, Stolt Tankers.

"In 1971, he acquired the first bulk-liquid storage terminal, thus paving the way for what is today Stolthaven Terminals. In 1972, he founded Stolt Sea Farm, recognised as a leading aquaculture company, specialising in the production of premium species.

"In 1973, he created Stolt-Nielsen Seaway A/S to provide innovative diving services to the offshore oil and gas industry in the North Sea, an operation that later evolved into Stolt Offshore, a billion dollar company. In 1979, he founded Stolt Tank Containers, building one of the world's largest tank container operators and the only operator with its own global depot network."

Stolt-Nielsen was chairman of the board from the company's founding until 15 December 2009 when he stepped down, remaining as a director. He was ceo from 1959 until 2000.

Niels Stolt-Nielsen, ceo and a director of Stolt-Nielsen Limited, as well as a son of Jacob Stolt-Nielsen, commented" "My father's presence at board meetings will be missed, but I expect we will continue to benefit, if only indirectly, from his most welcome counsel."

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