SOURCE: Seatankers Management Co. Ltd.

January 10, 2007 09:49 ET

Svein Aaser joins the Seatankers Group

NORWAY -- (MARKET WIRE) -- January 10, 2007 -- The board of Seatankers Management Co. Ltd. ("Seatankers") is pleased to announce that Mr. Svein Aaser has accepted a position as executive director in Seatankers, effective from 1 January, 2007.

Mr. Aaser retired from the position of CEO of Norway's largest commercial bank, DnB NOR Bank ASA at the end of 2006. He had held this position since 1998.

Seatankers is the manager of Greenwich Holdings Ltd., the main holding where John Fredriksen indirectly controls public and private investments. Seatankers is managed by an executive board headed by Mr. John Fredriksen. Mr. Aaser will be a member of the executive board alongside Messrs. Tor Olav Trøim and Dimitris Hannas.

In performing his duties as a member of Seatankers' executive board, Mr. Aaser will be employed at Seatankers' headquarters in Limassol. He is, however, also expected to spend considerable time in London and some time in Oslo.

His duties in Norway will be limited to the following up of the Seatankers Group's Norwegian investments, notably in Pan Fish ASA, where Mr. Aaser already holds the position as chairman of its board.

John Fredriksen says in a comment: "We are very pleased and honoured to welcome Mr. Aaser as a member of the core management team of the Seatankers Group. He has broad international experience, significant deal and organisational skills and has, as the CEO of a number of public companies, consistently delivered superior returns to his shareholders. Mr. Aaser has, through his business career, also built up an excellent reputation in the international capital markets. This is a very important qualification for our group. He will be a great addition to the senior management of our group and we are very much looking forward to starting this relationship."

Svein Aaser says in a comment: "The Seatankers Group has under John Fredriksen's dynamic leadership developed into an international multi-business conglomerate with a very strong financial position. The Seatankers Group has, as the major shareholder in several large public companies, taken an active role to spur consolidation and growth. I am excited to join the senior management of the Seatankers Group to help developing the organisation and its business further." Limasol January 10th 2007

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Contact Information

  • Contact persons:
    Svein Aaser
    Tel + 47 23 11 40 10

    Tor Olav Trøim
    + 44 207 824 5530