Container Shipping Struggles with Overcapacity: McKinsey
The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report. As container lines search for successful paths forward, they need to first determine what their strategy and potential role in the continuing industry consolidation will be. While mergers will continue, they do not need to be feared, just managed—and the guidelines in this report provide a starting point.
LOC Appoints Rutler as Group CFO
International marine and engineering consultancy LOC Group has appointed Jerome Rutler to the newly created post of Group Chief Operating Officer, responsible for LOC’s global operations including marine assurance and risk, energy and shipping sectors. Rutler has worked for more than 20 years in the oil and gas, petrochemicals and marine industries for a variety of companies, EPCI (engineering, procurement, construction and installation), consultancy and technical advisory. He also has experience as a company director, with particular expertise in management, operations and strategy.
Allcargo Logistics Strengthens Top Deck
Allcargo Logistics announced the expansion of its senior leadership team through the addition of two industry veterans, Mr. Prakash Tulsiani and Mr. Martin Muller. Mr. Prakash Tulsiani (53) joins Allcargo Logistics as the Chief Operating Officer and Executive Director (Operations). He will be responsible for Allcargo’s growth across its business verticals in India. Mr. Tulsiani is not a member of the Board of Directors of Allcargo. With degrees in Law and Commerce, Mr. Tulsiani is a Chartered Accountant and a Company Secretary.
Veritas Petroleum Services Appoints New CEO
Veritas Petroleum Services (VPS) announced that its Supervisory Board has appointed Gerard Rohaan as Chief Executive Officer, effective May 1, 2015. Rohaan succeeds Eirik Andreassen, who has stepped down as Chief Executive Officer. The new Board of Management will consist of Rohaan and Stan Peeters respectively as CEO and CFO. Andreassen will support this transition in an advisory role, and will remain with the company until the end of 2015. Prior to joining VPS Rohaan was SVP of the Continental Europe Division with the technical service provider Stork.
Hans Hansen is DNV GL's Area Manager for Scandinavia
In the power sector DNV GL supports the industry in delivering a secure, sustainable, available and affordable energy supply. In his new role Hans Tormod Hansen will be responsible for offering energy advisory services to the Scandinavian market, assisting power transmission and distribution companies with strategic advice, planning, implementation and energy delivery optimization – from policy to use. “Having started my career at DNV, I’m fascinated by how the company has evolved over the years,” said Hans Tormod.
Rolls-Royce Appoint Ian Davis Chairman
Rolls-Royce announce that Ian Davis will succeed Sir Simon Robertson as Chairman. Mr. Davis will join the Board as a non-executive Director on 1 March 2013 and take over from Sir Simon at the conclusion of the Annual General Meeting on 2 May 2013. Ian Davis spent more than thirty years with McKinsey & Company, including six as Chairman and Worldwide Managing Director. He serves, as a non-executive Director, on the Boards of BP and Johnson & Johnson and is a non-executive member of the Cabinet Office Board.
Five Minutes With Trond K. Johannessen
Trond K. Trond K. Johannessen, President & CEO, Hatteland Display, shares with MR his insights on the evolution and future direction of this Marine Electronics subsector, modern marine displays. Please tell us how you came to lead Hatteland Display. As so often in life, it was a coincidence that I got introduced to Hatteland Display in 2008 by a former colleague from McKinsey &Company that had contacts in the Board of Hatteland Display. One thing lead to another and in early 2009 I started as CEO and my former colleague as CFO.
Rowan Elects Two New Executive Officers
Rowan Companies, Inc. (NYSE: RDC) announced that Thomas P. Burke has been appointed to serve as the Company's Chief Operating Officer, and Melanie M. Trent has been appointed to serve as Senior Vice President, Chief Administrative Officer and Corporate Secretary. Burke, who joined the Company in December 2009, previously served as the President and Chief Executive Officer of the Company's manufacturing subsidiary, LeTourneau Technologies, Inc., which was sold to Joy Global in June 2011.