Financial News

Hamburg, 23 April 2014

Dr Jürgen Weber to hand over the chair of the Supervisory Board to
Michael Behrendt in autumn

Jürgen Weber (72) has decided to step down early as Chairman of the Supervisory Board of Hapag-Lloyd in autumn this year and hand over to Michael Behrendt (62). Behrendt will step down as Chief Executive Officer of Hapag-Lloyd at the end of June.

Jürgen Weber joined the Supervisory Board in June 2012 and was elected Chairman. In this key function, his role has not only been to decide on the successor of Michael Behrendt at the head of the shipping company, but also to use his considerable experience to ensure that Hapag-Lloyd remains optimally positioned in its business and that it continues to grow at a difficult time for the liner shipping industry.

"I believe these three tasks have now been fulfilled. Rolf Habben Jansen has been a member of the Executive Board since the beginning of April and will replace Michael Behrendt as Chief Executive Officer at the end of June. Despite the weak market environment, Hapag-Lloyd has been able to achieve results that outperform the level of its industry peers. The integration of the CSAV container segment will make Hapag-Lloyd the fourth-largest company in the industry. The closing of this transaction in the autumn is therefore the ideal time to hand over the chair of the Supervisory Board to Michael Behrendt. He can then continue to oversee the important phase of integrating the CSAV container segment into the Hapag-Lloyd Group with his expertise," said Weber.