Finnlines boss Lagerroos quits

Finnlines boss Lagerroos quits Antti Lagerroos, Finnlines' president and chief executive officer, Thursday resigned at the same time as its Italian majority owner Grimaldi Group marginally increased its stake in the company.
   Lagerroos will leave the position on Aug. 31 he has held at the Helsinki-based shipping company for almost 17 years.
   'Grimaldi asked me to continue both as CEO and as a board member. (But) the timing is now perfect. It's the very first time in our history (as a listed company) that we have a majority owner in the company,' Lagerroos said. 'The company's in good condition and the investment program (including five new ro-pax vessels) is going to be completed in June. All the pieces are now in place.'
   Finnlines' board has been urging shareholders to reject Naples-based Grimaldi's attempts to increase its control of the company as it feels the offer of 17 euros ($22.32) per share is too low. Grimaldi's ownership rose from 50.1 percent to 50.7 percent after the recent mandatory offer, which ended Feb. 16.