Copenhagen: CEO and partner of Clipper Group Kristian Mørch has resigned from the board of Denmark’s Thorco Shipping, after a dispute over the future of the company.
Mørch told press that the disagreements he had with the rest of the board over the strategic direction of Thorco had been longstanding.
Clipper’s multipurpose vessels will continue to be operated by Thorco in the future, but Clipper Group will no longer be represented on the Thorco board.
Thorco, the world’s second-largest operator of multipurpose vessels, was formed in 2013 when Clipper Projects merged with Thorco Shipping.
In an interview, Mørch did not rule out the possibility of selling the Clipper-owned vessels in the Thorco fleet, saying it depends on the evolution of the market, prices and profits.
Thorco’s board now consists of company owner Thor Stadil, his son Christian Stadil and CEO Thomas Mikkelsen.