Hapag-Lloyd CFO Steps Down Following CSAV Merger

Hapag-Lloyd’s Chief Financial Officer Peter Ganz instructed the group’s Supervisory Board at this time that he can be stepping down from his publish and leaving the corporate efficient April 1.

Peter Ganz has held the place since he joined the corporate in 2009 from TUI AG.

His resignation comes following the completion of Hapag-Lloyd’s current merger with Chilean delivery firm CSAV in December, which stipulated that as the most important shareholder CSAV would be capable to nominate the CFO.

The merger resulted within the creation of the world’s fourth largest container delivery firm, with round 200 vessels for a mixed capability of roughly a million TEU.

In a press release, Hapag-Lloyd thanked Ganz for his years of onerous work, in addition to for seeing via the completion of the merger and final yr’s monetary statements.

We owe Peter Ganz an incredible debt of gratitude – in a state of affairs that has not been simple for him – not just for seeing the merger of Hapag-Lloyd and CSAV via to the closing, but in addition for being keen to finish the annual monetary statements,” stated Michael Behrendt, Chairman of the Supervisory Board of Hapag-Lloyd AG. “During his six-year tenure as CFO, Peter Ganz made a decisive contribution to securing and strengthening Hapag-Lloyd’s future viability and competitiveness. Particularly during the financial and shipping crisis of 2009, Peter Ganz initially played a crucial role in the restructuring and refinancing of Hapag-Lloyd. Thereafter, he laid the groundwork for gaining access to capital markets and ensuring that Hapag-Lloyd had the financing it needed for growth. Furthermore, with great personal dedication, he contributed significantly to the successful merger of Hapag-Lloyd and CSAV.”

As his successor, Hapag Lloyd’s Supervisory Board has chosen Nicolas Burr, CFO of CSAV from 2012 till 2015. The 39-year-old Chilean native beforehand held administration positions at plenty of corporations in Santiago, Buenos Aires and Wilmington (USA) after incomes his MBA from MIT.

“With Nicolas Burr we have been able to obtain an outstanding leader for Hapag-Lloyd. The Supervisory Board is convinced that the Executive Board is superbly positioned to jointly tackle the range of challenges facing Hapag-Lloyd,” stated Michael Behrendt.