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28/01/2020at 14:21

Next generation joins executive team in Østergaard-Nielsen's USTC group

Nina Østergaard Borris will become COO of the USTC group, where she will also join the executive management team. "The natural next step according to the laid-out plan," says her father and USTC owner Torben Østergaard-Nielsen.
Photo: PR-FOTO
by CHRISTIAN CARLSEN

Torben Østergaard-Nielsen's daughter Nina Østergaard Borris enters executive management at global shipping group United Shipping & Trading Company (USTC).

Borris, 36, is to take the position of chief operating officer at USTC. In this role, she will be responsible for optimizing and developing the group's operating companies in close collaboration with the firms' executive managers as well as Torben Østergaard-Nielsen.

That Nina now steps up as COO at USTC is the natural next step according to the laid-out plan

Torben Østergaard-Nielsen, Owner, USTC

"That Nina now steps up as COO at USTC is the natural next step according to the laid-out plan, and I very much look forward to the gains Nina will bring as an important link in the future cooperation between USTC companies, Selfinvest Family Office and myself," says Østergaard-Nielsen in a statement.

Borris comes from a position as executive assistant responsible for M&A at Bunker Holding, which is part of the USTC group. Here, her focus areas were business optimization, strategy and M&A. Moreover, she is a member of the board of directors at SDK, Uni-Tankers – also owned by USTC – and at USTC.

Will neither sell nor list

After several years of strategy efforts, Østergaard-Nielsen decided in 2017 that the Selfinvest group, which encompasses USTC and other companies, will not be sold or listed but rather stay in the family. This decision was made via the family's company Selfinvest Family Office.

Since then, development plans have been made for the owner family's members, consisting of Torben Østergaard-Nielsen and his two daughters, Mia Østergaard-Nielsen and Nina Østergaard Borris.

Torben Østergaard-Nielsen's group

  • Torben Østergaard-Nielsen is the sole owner and CEO of Selfinvest.
  • Selfinvest is the parent company of Østergaard-Nielsen's business activities, including United Shipping & Trading Company (USTC), Selected Car Group, which leases premium-level cars and sells investment cars, and Selfinvest Family Office, which manages Selfinvest's investment assets, among other things.
  • Under USTC is Bunker Holding Group, which encompasses various oil-trading companies. These are Dan-Bunkering, Bunker One and Glander International Bunkering.
  • Tanker carrier Uni-Tankers with vessels of less than 20,000 dwt is also part of the USTC group.
  • So are shipping and logistics firm SDK, which operates throughout Scandinavia and was previously known by the name Shipping.dk, and Rederiselskabet Nyborg.
  • The USTC group also includes company Unit IT, which is a merger between Outforce, MindZet and itCraft.

Torben Østergaard-Nielsen has previously told ShippingWatch that he has placed certain demands on his daughters if they were to take leading positions in the group.

These demands are, however, not as rigid as those found at some other family-owned companies, where there may be requirements for a particular type of education and the amount of traveling or number of foreign postings needed to get to the top.

"They've been at the table for 20 years, so they know what's been going on. That could also help tip the scales. It will be an individual decision. But the important thing is that this has been addressed. We've also discussed how to handle disagreement. This doesn't necessarily mean that we can resolve it, but if one has talked about it and put words on it and thought about all kinds of scenarios, you've made strides," Østergaard-Nielsen told ShippingWatch.

English Edit: Jonas Sahl Jørgensen

Peter Appel joins boards of USTC companies 

Bunker Holding's owner family has settled on future strategy 

Related articles:

  • Photo: PR / Gorrissen Federspiel

    Peter Appel joins boards of USTC companies

    For subscribers

  • Torben Østergaard-Nielsen's two daughters Nina Østergaard Borris (left) and Mia Østergaard Nielsen are serving on several boards of directors, while Nina Østergaard Borris also works at Bunker Holding. The family has settled the company's future. | Photo: Selfinvest

    Bunker Holding's owner family has settled on future strategy

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