Bunker Holding, a global leader in the bunkering industry, has announced significant organizational changes to better position itself for future growth and address the increasing complexity of market dynamics. The restructuring involves a new Executive Management structure, and a refreshed commercial strategy aimed at enhancing customer engagement and optimizing operations across the Group.
Preparing for Growth with a New Structure
Effective December 1, 2024, Bunker Holding will implement a division of its commercial responsibilities into two distinct entities: Bunker Holding Sales and Bunker Holding Operations. This move is designed to foster greater specialization in areas such as sales, sourcing, risk management, and physical supply, ensuring the Group can adapt to market changes while remaining close to customers and suppliers.
Bunker Holding Group CEO Keld R. Demant emphasized the significance of these changes “We want to ensure that we prepare the company for future growth and build a world-class organization – one that can manage the dynamics of our market. By dividing the commercial responsibilities, we can adopt a more focused approach to both customers and operations, delivering the best service to our clients while maintaining operational excellence.”
Leadership Changes and Executive Management Expansion
As part of the restructuring, the Executive Management team will expand from three to four members:
- Keld R. Demant remains as CEO.
- Michael Krabbe continues as CFO.
- Anders Grønborg, previously CEO of KPI OceanConnect, will transition to Chief Commercial Officer (CCO) of Bunker Holding Sales, focusing on customer relations.
- Peder Møller, formerly with Global Risk Management (GRM), will step into the newly created role of Chief Operating Officer (COO) of Bunker Holding Operations, overseeing global sourcing, risk management, physical supply, and new fuels.
The departure of Christoffer Berg Lassen, who has led the commercial department since 2018, marks a significant shift. Keld R. Demant expressed gratitude for his contributions over two decades, stating “Christoffer has made an impressive mark on our commercial operations. I highly commend his efforts and wish him the best for his future endeavors.”
Broader Organizational Adjustments
The restructuring extends beyond Bunker Holding to its subsidiaries:
- At KPI OceanConnect, Dorthe Bendtsen, the current COO, will step in as interim CEO following Anders Grønborg’s transition. Dorthe has been part of KPI OceanConnect’s Executive Management team for 16 years.
- At Global Risk Management, Martin Vorgod, the current CCO, will take over as CEO. Martin joined GRM in 2022, focusing on developing innovative products in energy and emission certificates while strengthening customer-facing activities.
Strengthening the Role as a Full-Service Provider
Bunker Holding’s refreshed structure aims to bolster its position as a full-service provider in the maritime energy sector. By enhancing its focus on customer relations and streamlining operations, the Group is better equipped to navigate evolving market demands and drive growth across the value chain.
Chairman of the Board of Directors, Klaus Nyborg, highlighted the Board’s confidence in this direction “We believe the increased focus on growing closer ties to our customer base and streamlining operations will create value across the entire value chain.”
A Clear Vision for the Future
Bunker Holding’s restructuring is a strategic move to align its operations with the changing market landscape. By prioritizing customer specialization, operational efficiency, and leadership expansion, the Group reaffirms its commitment to remaining a leader in the global bunkering industry.
About Bunker Holding Group
Bunker Holding is the global leader in purchasing, selling, and supplying marine fuel and lube oil as well as providing risk management and other vital services for the shipping industry. The company operates via more than 1,591 ports worldwide and is present in 30 countries with 60 offices and more than 1,500 skilled employees.
Bunker Holding has a long history but remains forward-looking and focused on answering the needs and challenges of an ever-changing industry. The group is advancing and expanding its efforts in the green transition with an ambition to facilitate the decarbonization of the shipping industry.
Source Bunker Holding Group