TIM HARRIS RESIGNS AS CEO OF P&O NEDLLOYD

TIM HARRIS RESIGNS AS CEO OF P&O NEDLLOYD

   Tim Harris has resigned from his position as chief executive officer of P&O Nedlloyd, the 50-50 joint venture of the Peninsular & Oriental Steam Navigation Co. group and the Royal Nedlloyd group.

   Harris has also resigned as assistant managing director and member of the board of directors of the P&O group.

   P&O said that there was “a divergence of views” between Harris and the rest of the board of directors on issues related to the future management of the group.

   Harris has headed P&O Nedlloyd since the merger of P&O Containers and Nedlloyd Lines in late 1996 and was earlier the chairman of P&O Containers since the early 1990’s.

   P&O Nedlloyd has lost money for its first three years of operations since the merger.

   Robert Woods, managing director, has been promoted to the position of group managing director of P&O Nedlloyd, to become the carrier’s most senior executive after Harris’ resignation.

   P&O Nedlloyd has also announced changes to its executive committee. With the departure of Harris, P&O Nedlloyd’s chief financial officer, Haddo Meijer, has taken over the role of chairman of the executive committee. Barry Williams, managing director, region Europe, at P&O Nedlloyd, has joined the company’s executive committee.