In a stock market notice that was distributed on the afternoon of March 14, it was announced that Kristian Mørch will step down as CEO of Odfjell. In a personal email sent to the Odfjell organization, he explains the background for this decision:
A few minutes ago, we sent out a press release announcing that I will be stepping down as CEO of Odfjell. It will not happen immediately, though; I will continue in the role until my successor is in place, and the board is now initiating a process to identify who will take over.
I understand that this will surprise many of you, so I wanted to write to you personally to explain the background of my decision.
Why I have decided to step down?
The reason is personal and straightforward: My family and I have made the decision to relocate to Copenhagen. My daughter is studying in Copenhagen and my wife is already commuting for work to the same city, so in a way things are already going in this direction. Our decision is a natural consequence of that.
We have enjoyed our time here in Bergen immensely and we are in no hurry to leave. However, once our decision was made, I felt it was correct to inform the board and allow them as much time and flexibility as possible to plan for an orderly transition of the CEO role.
THANK YOU!
The Odfjell team has been a core part of my life for the past seven years, and I want to give you all a heartfelt THANK YOU. When I started in Odfjell back in 2015, I was welcomed and accepted with open arms. I have always felt the full support from all Odfjell'ers. Your inclusion means a lot to me, and it has made this decision very hard for me to take.
Seven years ago, we were the industry's underdog, battling with significant challenges. It has been an exciting and tough journey for all of us, and it has been hard work and long days for our entire organization, but together we have delivered extraordinary progress.
The turnaround has been possible because we have all done our best – no one person or one group can take the credit, we have succeeded as one team.
As I have said so many times; day by day nothing seems to change, but when I look back, I realize that we have moved mountains. I have never worked with an organization as agile, proud and competent as you. It has been a true privilege to lead and represent Odfjell during my time here – so from the bottom of my heart: thank you for your trust, dedication, and support.
What this is NOT about
I realize that this news, and the timing, may spark some speculations about my reasons and about what I will be doing next, so it is important for me to say the following:
What happens next?
I will continue to serve as CEO until my successor is found and when the new CEO is named, I will ensure a smooth handover. The board has initiated the process of finding my successor, but it is difficult to say how long it will take, so until then it is very much “business as usual”.
Although the world is full of uncertainty and dramatic events these days, I am confident that the future is bright for Odfjell.
I will remain loyal to Odfjell and eagerly follow the company's progress moving forward – and I will continue to be a shareholder as I strongly believe that we are on the right track!
If you have any comments, questions, concerns or anything else that you wish to discuss, then please do not hesitate to reply to this email, call me, text me or drop by my office – I am always available!
Onwards and upwards!
With gratitude,
Kristian
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