Nina Østergaard Borris, co-owner and current COO of Denmark’s United Shipping and Trading Company (USTC), is taking over the family-owned business as CEO, succeeding her father, Torben Østergaard-Nielsen, who will step back to chair the company’s board of directors.
Meanwhile, Ostergaard-Nielsen’s younger daughter, Mia Østergaard Rechnitzer, currently head of corporate governance, will assume the position of chief governance officer, stepping into USTC executive management. She will focus on developing and elevating ESG initiatives for USTC and its entities.
“Together, Nina and Mia will carry on developing the organisation while ensuring that the family values will continue to permeate the company. As founder and co-owner and in my new role as working chairman of the board of USTC, I will remain close to the business and stay very active in owner-related decisions surrounding USTC. I will continue to do so in close collaboration with both Nina and Mia and the leadership in all USTC companies. I have no plans to retire or reduce my workload, and I will instead focus my efforts on canvassing new business opportunities and setting the strategic direction for USTC,” said Østergaard-Nielsen.
Going forward, USTC executive management will consist of Ostergaard-Nielsen’s two daughters and Jakob Schultz Nielsen as group CFO. Following Østergaard-Nielsen’s appointment as working chairman, Klaus Nyborg, the current chairman of the board of USTC, will assume the position of vice chairman and step into the role as chairman of the board for USTC’s largest subsidiary, Bunker Holding, as well as USTC’s tanker business, Uni-Tankers. Torben Janholt has decided to step down as a board member for USTC.
