Lauritzen Bulkers CEO leaves due to stress

Martin Egvang has stepped down as chief executive officer of Copenhagen-based shipowner and operator Lauritzen Bulkers, citing stress issues.

“I have been experiencing increasing stress-related symptoms, which has reached an unsustainable level, and I have therefore concluded that the right thing for me is to step down as CEO of Lauritzen Bulkers,” Egvang said.

He took over from Niels Josefsen in September, joining from Danish operator Integrity Bulk, which was taken over by Singapore’s Centurion Bulk last year.

“Despite his short tenure, I want to thank Martin for his intensive efforts and the strategic direction he has set for Lauritzen Bulkers, and we wish Martin all the best for the future,” said Kristian Mørch, who will take the role of executive chairman on an interim basis.

Chief of finance, Jacob Winthereik, will assume the interim CEO role at Lauritzen Bulkers.

“This is not how I had imagined my time in this company would end, but it is the right thing to do under the circumstances,” Egvang added.