ANNOUNCEMENT
NO. 19 – 2008
22 September 2008
Interim
CEO of TORM
Mikael
Skov, Chief Operating Officer of TORM, is from today also appointed
interim Chief Executive Officer. He will assume both posts until Jacob
Meldgaard can join as new Chief Executive Officer.
Until
Jacob Meldgaard joins TORM, the management will consist of CEO, Mikael
Skov, and CFO, Roland M. Andersen.
Klaus
Kjærulff, who has been CEO of the Company during the last 8 years, will
continue to be available for TORM in resolving specific tasks and
projects.
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Contact | N.
E. Nielsen, Chairman of the Board of Directors: +45 2526 3343
Mikael
Skov, CEO: +45 3917 9200
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About
TORM
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TORM
is one of the world's leading carriers of refined oil products as well as
being a significant participant in the dry bulk market. The Company
operates a combined fleet of more than 130 modern vessels, principally
through a pooling cooperation with other respected shipping companies who
share TORM's commitment to safety, environmental responsibility and
customer service.
TORM was founded in
1889. The Company conducts business worldwide and is headquartered in
Copenhagen, Denmark. TORM’s shares are listed on the Copenhagen Stock
Exchange (ticker TORM) as well as on the NASDAQ (ticker TRMD). For further
information, please visit www.torm.com.
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Safe Harbor Forward Looking Statements | Matters
discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future events
or performance, and underlying assumptions and other statements, which are
other than statements of historical facts. The forward-looking statements
in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation,
Management’s examination of historical operating trends, data contained in
our records and other data available from third parties. Although TORM
believes that these assumptions were reasonable when made,
because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, TORM cannot assure you that
it will achieve or accomplish these expectations, beliefs or
projections.
Important
factors that, in our view, could cause actual results to differ materially
from those discussed in the forward looking statements include the
strength of world economies and currencies, changes in charter hire rates
and vessel values, changes in demand for “tonne miles” of oil carried by
oil tankers, the effect of changes in OPEC’s petroleum production levels
and worldwide oil consumption and storage, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled
dry-docking, changes in TORM’s operating expenses, including bunker
prices, dry-docking and insurance costs, changes in governmental rules and
regulations including requirements for double hull tankers or actions
taken by regulatory authorities, potential liability from pending or
future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and political
events or acts by terrorists. Risks and uncertainties are further
described in reports filed by TORM with the US Securities and Exchange
Commission, including the TORM Annual Report on Form 20-F and its reports
on Form 6-K.
Forward
looking statements are based on management’s current evaluation, and TORM
is only under obligation to update and change the listed expectations to
the extent required by law.
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ANNOUNCEMENT
NO. 19 – 2008
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22 SEPTEMBER 2008 |
A/S
DAMPSKIBSSELSKABET TORM – INTERIM CEO FOR TORM
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A/S
STEAMSHIP COMPANY TORM
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(registrant) | |||
Dated:
September 22, 2008
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By:
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/s/ Mikael Skov |
Name: Mikael Skov | |||
Title: Interim
Chief Executive Officer
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