NOL RESTRUCTURES APL MANAGEMENT

   Neptune Orient Lines chief executive officer Flemming Jacobs has
reorganized the senior management structure of container shipping
subsidiary APL, including making himself chief executive.
   Jacobs will "focus on the organization’s growing logistics business and
on the increasing trend to deregulate ocean shipping," NOL said.
   Tim Rhein, APL’s former CEO, will now serve as APL’s chairman.
   APL’s senior management will be led by three regional presidents: Ed
Aldridge for the America, Ken Sorensen for Europe and Dan McHugh for Asia.
   Jacob’s reorganization will "provide a flatter management structure
facilitating and allowing more front-line decision making and greater
accountability," NOL said.
   Lim How Teck, NOL’s deputy president and deputy chief executive officer, will also serve as APL’s chief financial officer.
   Jacobs, who took over as NOL’s CEO in June, will also initiate a
"strategic review of the entire logistics business," he said.