The founder of maritime company, Stolt-Nielsen Limited has retired.
Jacob Stolt-Nielsen, 83, will step down from the SNL board of directors on December 15 2014. The company stated that he would continue as Honorary Chairman.
Mr Stolt-Nielsen was responsible for the designs that led to the first parcel tanker. In 1959 he founded Parcel Tankers, pioneering the global trade for chemical tankers and building the world’s largest chemical tanker company, Stolt Tankers.
Niels G. Stolt-Nielsen, who is chief executive officer and a director of Stolt-Nielsen, as well as a son of Mr Stolt-Nielsen, said, "My father's presence at board meetings will be missed, but I expect we will continue to benefit, if only indirectly, from his most welcome counsel.”
Stolt-Nielsen seved as chairman of the board of directors of Stolt-Nielsen since he founded the Company in 1959 until December 15, 2009 when he stepped down as chairman, but stayed on as a director. He held the position of chief executive officer of Stolt-Nielsen from 1959 until 2000. He was trained as a shipbroker and worked in that capacity in London and New York prior to founding the business.
In 2013 the company generated $2.1 billion in revenue and its shares trade on the Oslo Stock Exchange.