The Board of Frontline Ltd. ("Frontline" or the "Company") announces that Mr. Robert Hvide Macleod has been engaged as the new Chief Executive Officer ("CEO") for Frontline Management AS. Mr. Macleod is currently the managing director and owner of Highlander Tankers AS and will join Frontline on November 3rd.
Mr. Macleod was employed by the AP Moller Group from 2002 to 2004 and Glencore-ST Shipping from 2004 to 2011. Mr Macleod holds a Maritime Business (Hons) degree from Plymouth University. He is a Norwegian citizen, 35 years old and resides in Oslo, Norway.
The current CEO of Frontline, Jens Martin Jensen has accepted a position where he will be in charge of the Sale & Purchase, Newbuilding and other maritime related projects of the Group. Mr Jensen was elected to the board of Frontline Ltd in September, 2014.
The Chairman of Frontline, Mr. John Fredriksen, has expressed the following: "Through the engagement of Robert Hvide Macleod we have gained a talented individual with in-depth knowledge of both shipping and oil trading. Combined with his outstanding network throughout the tanker industry, we believe this will ensure that the Company remains the driving force in the industry. With Jens Martin Jensen's continuation with the Group and his extensive experience and knowledge I am confident this will continue to help drive the Company forward".
October 20, 2014 The Board of Directors Frontline Ltd. Hamilton, Bermuda
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)