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Skaug Appointed At Wilh Wilhelmsen

The successor to the popular owner of Norwegian shipping group is announced...

Wilh. Wilhelmsen, a Norwegian shipping group, has said that it has appointed Ingar Skaug, 55, as the new chief executive officer of the company.

Skaug will take over after Wilhelm Wilhelmsen, 64, the company said in a statement to the Oslo Stock Exchange. The Wilhelmsen family is the company's biggest shareholder with just under half of the outstanding equity.

?At my age it is normal to step back,? said Wilhelm Wilhelmsen in an interview. Still, it is ?not unthinkable? that he will take over as chairman of the board, he added.

Wilhelmsen also said there are no plans to reduce his family's stake in the company.