New CEO for TORM

New CEO for TORM Danish tanker and bulk-shipping operator A/S Dampskibsselskabet TORM said today that Klaus Kj'rulff is stepping down as chief executive officer after eight years in the role.
   Kj'rulff, 56, has been with TORM for 33 years. He will be replaced by Jacob Meldgaard, executive vice president in charge of dry cargo at Dampskibsselskabet NORDEN A/S. Meldgaard, 40, was originally trained at another Danish shipping company, A.P. Moller – Maersk.
   “I choose to leave now that TORM is doing very well,” Kj'rulff said. “The integration after the purchase of OMI has finished successfully and we have just adjusted an upward direction for the expectations of the company's result to the best ever for TORM. Having been in TORM for many years I find it obvious that new strength is needed in the management to continue the company's growth. I am still young enough to be able to find new challenges outside of TORM and the time is perfect for a change in management.”
   TORM's management will comprise Jacob Meldgaard, CEO; Mikael Skov, chief operating officer; and Roland M. Andersen chief financial officer.
   NORDEN said that it would look in-house for a new head of its dry cargo department.