Odense Steel Shipyard divides the organisation

September 9, 2009

Odense Steel Shipyard will divide the organisation into two divisions, Lindø Industrial Park and Lindø Shipyard.

Lindø Industrial Park is facing a development process, while Lindø Shipyard is to be closed down. These are two very different tasks which have to be handled differently, and this is best done in two separate organisations.

In this connection, managing director Finn Buus Nielsen has decided to resign from his position, allowing other resources to lead Odense Steel Shipyard in the time ahead. He will resign from his position as of 1 November 2009.

”I have worked for more than 40 years, and the years have been great with many exciting challenges. However, I believe that with the decision to divide the company into two divisions, the timing is right for me to resign and let new resources take over,” says Finn Buus Nielsen.

Lindø Industrial Park will be operated as an independent division where FAYARD (formerly known as Fredericia Shipyard) currently rent facilities, whereas Lindø Shipyard will be closed down gradually until the final orders have been delivered in February 2012.

”Finn Buus Nielsen has been a great asset to Lindø, and in the recent years his job has been very difficult. After it was decided to divide the organisation he has chosen to resign. A decision we fully respect,” says the chairman of Odense Steel Shipyard, Lars-Erik Brenøe.

Today Finn Buus Nielsen is 60 years old, and he came to Odense Steel Shipyard in 1966. Since then his career has developed within the A.P. Moller - Maersk Group, most recently as managing director of the Odense Steel Shipyard Group.

Odense Steel Shipyard Ltd. A/S will continue as a company but will be the holding company for the two independent divisions. Current CFO, Peter Jann Nielsen will be managing director of the holding company. He will be in charge of the overall coordination of the Group and relations to the board of directors. Steen Schougaard Christensen will be responsible for the operation of Lindø Shipyard, while Michael Nymark Hansen will be responsible for the operation of Lindø Industrial Park. They both come from positions within Odense Steel Shipyard. Steen Schougaard Christensen held a position as head of production and Michael Nymark Hansen was responsible for the development of Lindø Industrial Park.

A.P. Moller - Maersk A/S, press release