Trygve P. Munthe has decided to step down from his position as co-chief executive officer of DHT Holdings and retire after a 35-year career in shipping.
Munthe, who spent more than 11 years with the New York-listed VLCC owner, will leave the company on April 8, 2022, and return to his native Norway. Following his retirement, DHT’s co-CEO, Svein Moxnes Harfjeld, will remain alone at the helm.
“When Svein and I took over management of DHT in 2010, it was with a clear ambition to transform the company from a small tonnage provider to a highly regarded large tanker owning company. We have combined a quality fleet of 26 VLCCs with an excellent organisation and the strongest balance sheet amongst public peers. We have delivered on our strategy of investing countercyclically and protecting the downside without giving away the upside. The company is in great shape and in the best of hands with Svein as the sole CEO and leader of the outstanding DHT team,” Munthe said.
Munthe joined DHT in September 2010. He was previously CEO of Western Bulk, president of Skaugen Petrotrans, director of Arne Blystad AS and CFO of I.M Skaugen.