Hamilton, Bermuda, 11 October 2021 - Höegh LNG Holdings Ltd. (“Höegh LNG” or the
“company”) announced that on 9 October 2021, Mr. Sveinung J. S. Støhle gave
notice that he intends to resign from his position as the President & CEO of the
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Höegh LNG group in order to pursue an alternative career opportunity based
outside of Norway. Mr. Støhle will remain in his position until 1 November 2021.
The Board has started the process of identifying a permanent successor for the
President & CEO position and has appointed Mr. Thor Jørgen Guttormsen to act as
interim President & CEO from 1 November 2021 while the Board conducts its
search.
Mr. Morten W. Høegh, Chairman of the company, commented, “On behalf of the Board
of Directors, I want to express that we regret Sveinung’s decision, and that we
thank him for his hard work and leadership in building Höegh LNG into the
premier FSRU provider in the LNG industry. When Sveinung joined us in 2005 our
LNG activities consisted of a small fleet of LNG carriers and Höegh LNG had not
yet been established as a separate company. Sveinung led our entry into floating
regas through the ordering of the SRV vessels, and subsequently through the
substantial investment program of eight FSRUs and the creation of two stock
-listed public entities. Sveinung’s clear vision and strong determination has
been instrumental for Höegh LNG becoming the largest operator of FSRUs globally
with a reputation for quality and impeccable operational performance. On a
personal note, I have enjoyed tremendously the close working relationship with
Sveinung based on trust and mutual support over all these years. We wish him all
the best in his new endeavors.”
Mr. Sveinung J. S. Støhle, President & CEO, commented, “It has been a pleasure
and a privilege to have been in charge of the Höegh LNG group’s development and
I have worked with the most talented LNG team in the industry for the past 15
years. Höegh LNG is the clear leader in the FSRU business with strong growth
prospects, and I am very proud of the accomplishments we have achieved together.
I would like to thank Morten, the board and the entire team, and wish everyone
well in the future.”
Mr. Morten W. Høegh, Chairman and Johan Pfeiffer, Deputy Chairman, said in a
joint statement; “We are very pleased that Thor Jørgen Guttormsen has accepted
to take over as interim President & CEO of Höegh LNG. Thor Jørgen knows the
organization and business well and the board and shareholders have confidence he
will ensure stability and progress in the period until a new CEO is in place.
The board is in an early phase of a process to identify a permanent successor to
the CEO role. Under new private ownership, with renewed energy and focus, Höegh
LNG will continue the journey towards realizing our vision - to enable the
transition to clean energy.”
Mr. Thor Jørgen Guttormsen biography:
Guttormsen has had a long career with Höegh. He was a director of Höegh LNG
Holdings Ltd. from 2006 to 2011 and an alternate director from 2011 to 2021 and
a director of Höegh LNG AS from 2006 to 2021. He recently held the position of
CEO of Höegh Autoliners from 2019 to 2020 and now serves as a director. He has
been CEO of Leif Höegh & Co from 1992 to 2008. Previously, he has held positions
as Manager in Price Waterhouse and IKO Strategy AS and as CEO of JSA Holding BV
(a Paris based shipping company). Thor Jørgen has been President of the
Norwegian Shipping Association and a Board member of BIMCO and ECSA. He is
presently on the Boards of Telenor Maritime and Danmarks Skibskredit. Thor
Jørgen holds an MSc from The Norwegian School of Economics and Business
Administration (NHH) and has participated in the International Executive Program
at the Institute for Management Development (IMD) in Lausanne, Switzerland.
Contact:
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
About Höegh LNG:
Höegh LNG operates world-wide with a leading position as owner and operator of
floating LNG import terminals; floating storage and regasification units
(FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs).
Höegh LNG’s Vision is “Enabling the transition to Clean Energy”. The company is
owned by Larus Holding Limited, a 50/50 joint venture between Leif Höegh & Co.
Ltd. and Funds managed by Morgan Stanley Infrastructure Partners, and owns
approximately 46% of Höegh LNG Partners LP (NYSE:“HMLP”). Höegh LNG is a Bermuda
based company with established presence in Norway, Singapore, the UK, USA,
China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group
employs approximately 190 office staff and 670 seafarers. Please see:
www.hoeghlng.com
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