Roland Andersen will continue his duties on the executive board, leaving the company by the end of October this year.
Andersen joined Torm in 2008 from AP Møller Maersk Singapore and oversaw Torm's successful restructuring last year that left the company firmly in the hands of its creditors. Torm was recently forced by one of its creditor banks to offload five tankers to Oaktree Capital Management, contributing to a 2012 loss of $579m.
Andersen commented "The work to get the restructuring agreement in place has now been completed, the company's situation has stabilised and the Annual General Meeting has approved the annual report for 2012. In the light of this, I have decided that now is the right time for me to embark on a new journey in my professional life."
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