Car carrier player Wallenius Wilhelmsen has nominated former banker Rune Bjerke as its vice chairman, with a view to the ex-DNB boss eventually becoming chairman.
He will be confirmed as a director at a shareholders meeting on 28 April.
The Oslo-listed company said it is important to take a long-term view and to plan for the eventual recruitment of a new chairman when Hakan Larsson's term expires in 2021.
"The nomination committee considers that a period of overlap between Hakan Larsson and his successor will benefit the company and the functioning of its board," it said.
"Rune Bjerke is a well-known business leader in Norway and Scandinavia, having served as CEO of DNB, Hafslund and Scancem International."
Over the past decade, Bjerke steered DNB through a period of digital transformation.
"The nomination committee considers that he is eminently suited to serve as vice chairman and later chairman of the board of Wallenius Wilhelmsen," the company added.
Turbulent times for shipowner
Bjerke said last June he was resigning and would step down as DNB chief executive in September 2019. He is contracted to the bank until 17 June.
Wallenius Wilhelmsen, a joint venture of Norway's Wilh Wilhelmsen and Sweden's Wallenius Lines, operates around 125 vessels servicing 15 trade routes to six continents.
Its markets have been heavily hit by coronavirus.
Last month, it said it was laying off half of its production workers in the US and Mexico over the economic impact of Covid-19.
A total of 2,500 workers will go in the two countries, but it could hire them back when business rebounds.
This was announced days after it cancelled two dividend payments, saving $60m, while scrapping four older ships, putting 10 more in lay-up and axing four scrubber installations in an effort to reduce capital expenditures.
It also named Torbjorn Wist as its incoming chief financial officer from 1 October. He is joining from Scandinavian Airlines, where he has been executive vice-president and head of finance.
