Tor A Svelland has resigned as chief executive officer of John Fredriksen’s family holding company, Seatankers, just under a year after he took the job and replaced Harald Thorstein.
According to the Norwegian business daily Finansavisen, Svelland has returned to lead the London-based hedge fund Svelland Capital, which he started in 2016.
Svelland joined Seatankers end-August last year to help Fredriksen (pictured) and his daughters take advantage of shipping and offshore business opportunities. He will remain on the boards of Frontline, Golden Ocean, Aeternum Capital and Alta Trading.
“He was hired for 12 months to lead Seatankers through an important and necessary restructuring. That job has now been completed,” John Fredriksen told Finansavisen.