EMS Seven Seas CEO resigns

Following a disappointing quarter result for EMS Seven Seas, Morten Persen has opted to resign as CEO of the Norwegian supplier, effective immediately.

The CEO of stock-listed Norwegian supply company EMS Seven Seas, formerly a part of the Eitzen Group, Morten Persen, resigns from his position following financial result this quarter that failed to please the company's Board of Directors.

Even though the 3rd quarter operating result (EBITDA) brought a slight improvement at USD 1.4 million, compared to USD 1.3 million in the previous quarter, the interim report shows disappointing profit developments in spite of several efforts to improve the results, along with the fact that the company has launched a series of initiatives.

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