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Former Torm CFO got USD 1.75 million golden handshake

Torm's former CFO, and one of the key people behind the carrier's restructuring plan, Roland M. Andersen, triggered a clause that brought him USD 1.75 million when the company got new owners.

When Roland M. Andersen, Torm CFO until October 2013, left the company, he triggered a clause in his contract that brought the chief financial officer a USD 1.75 million golden handshake.

The special one-time compensation for Roland M. Andersen, a so-called Change of Control clause, is evident from Torm's annual report for 2013 under the section detailing remuneration of Board and management in the past year.

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