Frontline Management CEO resigns
Bj'rn Sjaastad has resigned as chief executive officer of Norway-based Frontline Management AS, a wholly owned subsidiary of Frontline Ltd., the world's largest tanker company.
Frontline Management supports Frontline in the implementation of its decisions and is responsible for the commercial management of its shipowning subsidiaries, including chartering and insurance.
According to a release, Sjaastad's decision was made for family reasons having spent the last two years commuting between his family home in Bergen and the workplace in Oslo.
'The board of Frontline regrets Mr. Sjaastad's resignation, but greatly appreciates all the work he has done in order to streamline Frontline to a top professional tanker company,' Frontline said in a statement.
The company added it has already begun its search for a replacement to Sjaastad and until the position is filled, John Fredriksen, CEO of Frontline, and the board of Frontline Management, will take over his responsibilities.
Frontline Management CEO resigns
