J. Lauritzen CEO could face additional capital needs

J. Lauritzen, which is set to publish its second quarter interim report on August 19th, could need another USD 100 million in new capital injections from owner Lauritzen Fonden by as early as next year, analysts project. The pressure on new CEO Mads Peter Zacho looks set to grow further.

Clear-cut challenges seem to await Mads Peter Zacho when he takes over the reins as new CEO of J. Lauritzen by December 1st 2016 at the latest, replacing departing Jan Kastrup-Nielsen.

Mads Peter Zacho, currently serving as CFO of Torm, will become a one-man executive team at struggling J. Lauritzen, as the chief financial officer position will not be refilled after the departure of Birgit Aagaard-Svendsen. She will leave the carrier in late August at a time when the collapse of the international dry bulk sector has thrown J. Lauritzen and the rest of the industry into a crisis of historical proportions with no prospects of significant improvements before sometime in 2018 at the earliest.

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