Danish shipowner Torm has recruited former Danske Bank executive Kim Balle as its new chief financial officer.
Balle will replace Christian Sogaard-Christensen at the product tanker giant, which is marking its 150th anniversary this year.
Sogaard-Christensen was chief financial officer of Torm for a little over three years, a period which saw it take up a listing on the Nasdaq in New York and become the first shipowner for a decade to raise capital in Copenhagen.
Sogaard-Christensen revealed in December he was planning to leave the tanker owner.
Jacob Meldgaard, executive director of Torm, said Balle brought both a background in the financial sector and managerial experience across various industries to the position.
Balle has joined Torm from CASA, a private equity owned company, where he was also served as CFO.
He has also worked with DLG, the Danish transport company, and was at one stage head of corporate banking at Danske Bank.
Torm booked a pre-tax profit of $23.5m in the first quarter of this year and has a fleet worth $1.6bn, including newbuildings.
