Torben Østergaard: New leadership necessary in struggling company

USTC's Shipping Holding is in the midst of a turnaround and has made changes to the company's senior management. Now it's time to get back in black, says USTC-owner Torben Østergaard-Nielsen in an interview with ShippingWatch.

A new man has taken over the reins of Shipping Holding, who owns, one of the bany business areas under United Shipping & Trading Company (USTC). For the last five years, the financial reports have described a company that has made some significant "holes in the ground," as USTC-owner Torben Østergaard-Nielsen puts it. And so now was the time to try something new. Since September 19th the company has been headed by Søren Gran Hansen, who replaced Lars Hoffmann:

"We thought this was the right time to get some fresh management at the head of the shipping group. Fatigue can somestimes set in after five or six years, especially considering the color of the numbers we've seen," Torben Østergaard-Nielsen tells ShippingWatch, drawing on a image from football where history has repeatedly shown that coaches in a losing streak either tend to find a new club on their own or find themselves replaced by club management.

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