The ongoing restructuring at Denmark’s Norden has seen it slash its executive management team from five to three with its old CFO shown the door in the process.
Responsibility for the finance department, investor relations and corporate secretariat will be combined under executive vice president Martin Badsted, who will be appointed CFO.
At the same time, responsibility for sale and purchase as well as long-term charter procurement will be combined in a new unit, asset management, covering both dry cargo and tankers. This new department will be headed by Henrik Lykkegaard Madsen, head of the projects department, who will be appointed senior vice president.
“With the changes we are consolidating a number of functions creating a more streamlined organisation,” said Jan Rindbo, Norden’s ceo.
As a consequence, CFO Michael Tønnes Jørgensen and executive vice president Lars Bagge Christensen will resign.