Sudden departure at Lauritzen: The CEO steps down
Af Martin Egvang resigns with immediate effect from his position as CEO of Lauritzen Bulkers.
It’s only six months since he entered the dry bulk shipping company headquartered in Hellerup.
Now, he is history.
In a press release from the shipping company, the main character states:
- This is not how I envisioned my time at this company ending, but it is the right thing to do under the circumstances. I would like to thank everyone at Lauritzen Bulkers. You have been very welcoming, and I wish you all the best in the future, says Martin Egvang, without elaborating on the background of his sudden departure.
There are no plans to change the organization or the strategy for Lauritzen Bulkers Kristian Mørch, chairman of the board for Lauritzen Bulkers
Chairman of the Board Kristian Mørch regrets the situation:
- I am very sorry that Martin is leaving us, but I have great respect for his decision, says Kristian Mørch.
Thanks from the chairman
The chairman thanks Martin Egvang for the "intensive effort and the strategic direction" he, as CEO, was able to set for Lauritzen Bulkers and wishes him the best for the future.
At the top of the dry bulk shipping company, CFO Jacob Winthereik, supported by the management team, will take over as interim CEO of Lauritzen Bulkers, the board informs:
- There are no plans to change the organization or the strategy for Lauritzen Bulkers, says chairman Kristian Mørch.
It was only two days ago that Martin Egvang stood at the forefront and presented the company's financial statement for 2024.
It showed a significant increase in profits to 17.9 million dollars (128 million DKK) but a decline in revenue by 25 million dollars to 577 million dollars, equivalent to 4.1 billion DKK.
Martin Egvang took over as CEO of Lauritzen Bulkers on September 2, 2024, after Niels Josefsen, who retired after six years as the company’s CEO.
The outgoing director took up the position with a background as CEO of the dry bulk shipping company Integrity Bulk since 2014, as well as leadership roles at Clipper and Armada.
Upon Martin Egvang’s appointment, chairman Kristian Mørch stated that Martin Egvang would set the company on a path to growth:
- After a few years where we have sharpened and professionalized, we are now taking the next strategic step and need to figure out how we will set the strategy moving forward, said the chairman in an interview with Søfart.
Søfart is working on a detailed comment from the chairman of Lauritzen Bulkers.
