Mr Wilhelmsen will continue as a member of the board and therefore still be actively involved in the future development of the company.
Mr Wilhelmsen has held a number of leading positions in WW since he joined the company in 1964. He acted as chair since 1992, except for the period from 2000 to 2003, when he was president and group CEO of WW.
“Having acted as chair for almost two decades, it seems natural to step down as chair in connection with the restructuring of the group. Seen from a corporate governance perspective, it is timely to step down now as my son, Thomas Wilhelmsen, will take up the position as group CEO in the second half of 2010,” says Mr Wilhelmsen.
“I am pleased that Mr Schnitler takes up the position as chair. In addition to his vast business experiences, he has been part of the board for many years. I am confident that he, together with the other board members, will continue to develop WW as a leading maritime group.”
Mr Schnitler is a full time professional chair and board member, and has been deputy chair and member of the board of WW since 2002. Mr. Schnitler holds a Bachelor of Science from the Norwegian University of Technology and Science (NTNU) and has, amongst other assignments been president of Kværner Shipbuilding and Saga Petroleum ASA.
Additional information related to the restructuring is available on www.wilhelmsen.com .