DHT Holdings CFO Eirik Ubøe leaves abruptly

  • Push-out Score suggests push-out forces
  • After 13 years in the position
  • Praise, thanks and good wishes for Ubøe
  • Laila Halvorsen taking over

(exechange) — Hamilton, Bermuda, June 11, 2018 — Eirik Ubøe, finance chief of DHT Holdings, leaves. It is an abrupt change. As announced by DHT Holdings, Inc. in a news release on Monday, June 11, 2018, Eirik Ubøe leaves his post as Chief Financial Officer at the independent crude oil tanker company after 13 years in the role, effective immediately.

It is the end of an era.

Ubøe’s duties will be taken over by Laila Halvorsen, most recently Chief Controller & Accountant of DHT Holdings, Inc.

No reason given

In the announcement, DHT Holdings did not explicitly explain the obviously compelling reason for Ubøe’s sudden move, leaving room for speculation.

Precise information about Ubøe’s future plans was not immediately available.

Alarm signal

Generally speaking, it is often an alarm signal for stockholders when a CFO leaves the post abruptly and without comprehensible reasons being given.

“Leaving”

DHT Holdings said: “Eirik Ubøe, Chief Financial Officer, is leaving the Company after 13 years of service.”

Share price decline

The change follows a decline in the share price of DHT Holdings, Inc. since January 2016.

Chaired by Erik A. Lind

DHT Holdings, Inc. is chaired by Erik A. Lind.

Co-CEOs: Svein Moxnes Harfjeld and Trygve P. Munthe

Svein Moxnes Harfjeld and Trygve P. Munthe serve as Co-CEOs of DHT Holdings, Inc. Harfjeld joined DHT on September 1, 2010. Munthe joined DHT on September 1, 2010.

In the position of CFO since 2005

Ubøe joined DHT in 2005.

He has more than 20 years of experience in international accounting and finance, which includes Chief Financial Officer for Nutri Pharma ASA and the Schibsted Group, the largest Norwegian media group, both listed on the Oslo Stock Exchange.

Ubøe has also served as a vice president in corporate finance and ship finance departments of various predecessors to JPMorgan Chase.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Eirik Ubøe’s sudden move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 25.2018 ($).