Global Ports Investments has announced that Morten Engelstoft, Chairman of the Board of Directors and Non-Executive Director has informed the Board of his decision to step down from the Board effective 29 of May 2020 to concentrate on his role as CEO of APM Terminals as well as his role as member of the Executive Board of A.P. Moller – Maersk.
M.Engelstoft will also step down from the position of Chairman of the Board of Directors as of today, 24th of April 2020. ‘АРМ Тerminals continues to regard Global Ports as its strategic investment and values the cooperation with Delo Group. I will continue to be involved in Global Ports performance and development at shareholders` level,’ M.Engelstoft commented.
The Board has appointed Soren Sjostrand Jakobsen as Chairman effective immediately. S.S. Jakobsen was appointed as a Non-Executive member of the Board of Directors of Global Ports in March 2018. He has been with A.P. Moller – Maersk Group for 39 years , having worked for APM Terminals for the last 14 years. During 2013-2019, S.S. Jakobsen was based in Dubai, United Arab Emirates, as Portfolio Manager for APM Terminal’s Africa, Middle East and South Asia joint venture portfolio. Since early 2019 he has focussed on APM Terminal’s Russia portfolio as well as Joint Venture management globally for APM Terminals.
At a Board meeting held on April, 23, the Board called an Extraordinary General Meeting of the Members of Global Ports Investments Plc to be held in Limassol, Cyprus on 29 May 2020, to consider and, if thought fit, pass the resolutions 1 and 2, being the item of ordinary business as follows:
- To approve the resignation of Mr. Morten Engelstoft from the Board of Directors of Global Ports Investments PLC as of 29th May 2020.
- To elect Mr. Kristian Bai Hollund as a director of the Company until the next annual general meeting of the Members of the Company to be held in 2021, with no remuneration.
R.B.Hollund has a 15 years’ global experience in a highly international environment. He was appointed Operations CFO of APM Terminals in December 2018. Prior to this, he held a number of senior financial roles at Maersk Line including Commercial CFO (2014 to 2018), CFO China (2011 to 2014), CFO Netherlands (2008 to 2011) and Finance Manager Central Europe (2007 to 2008).