Kristian Mørch, CEO of Norway-based shipping group Odfjell, has informed the company's board of directors that he will step down after seven years in the role.
The board has initiated a process to identify the next CEO, and Mørch will continue in his current role until his successor is in place. Russell Reynolds Associates in Oslo has been engaged as an advisor in the process.
Chair of the board, Laurence Odfjell, said, "Kristian has led Odfjell through seven intense years of transformation. Under his leadership, Odfjell has made significant progress and as a company, we are in a much better place today than we were in 2015. The board would like to express our gratitude for his contributions over these years, and we value his commitment to ensuring an orderly process to find his successor."
Mørch said, "It has been a privilege to lead the highly professional and dedicated Odfjell team during the past seven years, and I am proud of what we have achieved during this turnaround period. Odfjell is today standing on a very strong competitive platform and is well-positioned to take advantage of the opportunities ahead of us, so it is now the right time for the company to identify who will be leading Odfjell into the future."