Former OW Bunker CEO Jim Pedersen Dies Age 57

Monday March 27, 2017

Former OW Bunker CEO Jim Pedersen has died age 57, Danish media reports citing confirmation Monday from his attorney John Korsø Jensen.

He is understood to have been battling a long illness.

Pedersen was a long serving member of the WRIST group and will be remembered for his role in OW Bunker's growth into one of the world's largest and most recognized bunker companies, before leading it to a successful $1 billion IPO in March 2014.

However, the former bunker industry giant infamously declared bankruptcy just seven months later following a combination of fraudulent activity and "risk management" related losses.

The legal ramifications of the November 2014 bankruptcy are still being dealt with today.

A long investigation over whether the company's management, along with its previous private equity firm owners Altor are in any way accountable for the company's collapse is still ongoing.

Pedersen was also one of several former OW Bunker executives who in 2016 was charged by Denmark's Serious Economic and International Crime (SØIK).