September 1, 2009
Jacob Stolt-Nielsen to step down
Stolt-Nielsen S.A. (Oslo B¿rs: SNI) announced today that Jacob Stolt-Nielsen, who founded the company and served as its Chairman since 1959, will step down as Chairman effective December 15, 2009, the company's 50 year anniversary date He will continue to serve as a Director of the Board.
Christer Olsson, who has been a Director of SNSA since 1993, has been nominated to succeed Mr. Stolt-Nielsen. Mr. Olsson is Vice Chairman of Wallenius Lines AB and has extensive shipping-industry experience.
Commenting on the transition, Mr. Stolt-Nielsen, said, "It has been my privilege to lead this company and its people for the last 50 years. I step down as Chairman with sadness, but at the same time with an extraordinary sense of satisfaction and confidence, knowing that Mr. Olsson as Chairman, and Niels G. Stolt-Nielsen, the Chief Executive Officer, and his management team, will continue to capably operate the Company going forward. I anticipate this transition with the peace of mind that comes from knowing that SNSA is in good hands and in good order."
Mr. Olsson said, "Jacob's remarkable achievements speak for themselves. I enthusiastically look forward to the opportunity to carry forth his legacy of success."
In addition to his responsibilities at Wallenius, Mr. Olsson also serves as a director on the boards of Transatlantic AB, Atlantic Container Line AB, United European Car Carriers and Singapore Shipping Corporation. He holds a Bachelor of Law degree from Stockholm University and is a Swedish citizen.