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.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Several factors explain the plummeting dry bulk rates

Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs