AKPS Elects New Executive Chairman

Aker Philadelphia Shipyard ASA tody announced that Kristian Rokke, AKPS’s President and CEO, has been nominated to be Executive Chairman of the Board of Directors of AKPS.

This nomination is expected to be approved at the company’s Annual General Meeting on April 9, 2014. Steinar Nerbovik, who is currently Senior Vice President of Operations of Aker Philadelphia Shipyard, Inc., AKPS’s wholly-owned subsidiary (APSI), will assume the position of Managing Director of both AKPS and APSI.

As Executive Chairman, Mr. Rokke will continue to have an active role in AKPS’s activities and plans to remain full-time in Philadelphia, PA until the end of 2014. At the end of this transition period, Mr. Rokke will become Chairman of the Board of Directors of AKPS with customary responsibilities and assume another position within the Aker group.

Mr. Rokke remarked, “Serving as CEO has been an honor and I look forward to contributing to the growth of AKPS in a new role. The company is embarking on a new era and Steinar, with his international shipbuilding experience and intimate knowledge of APSI, is uniquely qualified to guide the shipyard through its record backlog.”

He continued, “The market continues to be strong and I will focus primarily on maximizing the opportunities surrounding our available slots and shipping assets, while Steinar will manage the day-to-day operations as he has for the past year.”

The other individuals joining Mr. Rokke on the Board of Directors are expected to be Audun Stensvold, Amy Humphreys and Elin Karfjell. Mr. Stensvold and Ms. Humphreys have been recommended by the Nomination Committee of AKPS for re-election at the next Annual General Meeting.

[mappress]
akerphiladelphia, March 19, 2014