Kenneth Steengaard. Image Credit / GRM.
Board member Kenneth Steengaard is to take over the reins at Global Risk Management (GRM) from out going chairman Keld Demant.
When Steengaard joined the board last year, it was the intention that he would move into the chairman's role, the company said in a statement.
"It has been a great pleasure to help build a strong player in the international energy hedging market. The timing for me to hand over the reins is perfect as GRM is now set up to pursue further growth which I am sure will happen with Steengaard at the helm," Demant said.
Steengaard described GRM as having "great potential".
"The global pandemic and volatile energy prices have only increased the need for our products and services, and I look forward to helping the company capitalise on that opportunity," he added.
GRM is part of the United Shipping & Trading Company. Demant is the chief executive of Bunker Holding.