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New President/CEO of Odfjell SE

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Oilfield Technology,

Due to different views on the strategic direction of the company, the Board of Odfjell SE and Jan A. Hammer have agreed that he will step down as President/CEO with immediate effect.

The Board would like to thank Jan A. Hammer for his long service and dedication to the company.

The Board has appointed Tore Jakobsen as new President/CEO for an interim period. He has been a member of Odfjell's Management Group since 2005 where he has served as Senior Vice President, Corporate Investments. Previously Mr Jakobsen was President/CEO of Westfal-Larsen & Co AS. He is 63 years old and holds a Master in Economics and Business Administration.

The Odfjell Group is one of the leading players in the global market for seaborne transportation and storage of chemicals and other speciality bulk liquids. The Odfjell fleet comprises of approximately 90 ships, which trade both globally and regionally. The tank terminal division consist of 12 tank terminals and is part of a network of another 12 tank terminals partly owned by related parties. The tank terminals are strategically located within important shipping hubs around the world.

Adapted from press release by Joe Green

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