Behrendt named to head CP Ships board
Michael Behrendt, chairman of the executive board of Hapag-Lloyd AG, has been appointed chairman of the board of CP Ships.
TUI AG, the parent company of Hapag-Lloyd, holds 89 percent of shares in CP Ships and intends to take over CP Ships entirely by the end of 2005. After an amalgamation of CP Ships' fleet, Hapag-Lloyd will have a total of 136 vessels with an overall capacity of 400,000 TEUs.
In a related development, Rainer Feuerhake, chief financial officer of TUI, has been appointed to the board of CP Ships.