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OW Bunker CEO brought "cleaner" back in October

The scandal concerning the collapse of OW Bunker really consists of two separate cases, where CEO Jim Pedersen thought he had taken the consequences last week by getting into his car, driving home to the company's head of risk management and firing her on the spot.

Several weeks before the OW Bunker Board of Directors on the night between Wednesday and Thursday last week issued a statement saying that the company had been subjected to fraud for USD 125 million and had lost another USD 150 million on risk-fraught oil contracts, the company's senior management had brought back former head of risk management, Kenneth Rosenmeyer.

Kenneth Rosenmeyer played a central role in the preparations for OW Bunker's IPO back in March this year, but he chose to leave the company not long after. Sources inform that Kenneth Rosenmeyer returned to his former job at OW Bunker in mid-October.

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