Fredriksen’s two daughters ‘much more involved’ in business strategy
Cecilie and Kathrine Fredriksen ‘complement each other very well’ and their father points to the group’s property investments as part of their ‘philosophy of diversification’
Kathrine and Cecilie Fredriksen, with father John.
Leading shipowner John Fredriksen has hired a number of key employees in the past few years, most of whom work out of the group’s office in London’s Sloane Square.
Last week, TradeWinds’ online platform revealed the Norwegian-born billionaire had appointed former Vimpelcom boss Jo Lunder as his organisation’s new chief executive.
Already at Fredriksen’s top table are Deep Sea Supply chairman Harald Thorstein and Gevaran Investments’ Espen Westeren, who have been working with the owner for some years.
On the shipping side, Jens Martin Jensen, Marius Hermansen and new Frontline Management boss Robert Hvide Macleod are key figures, along with Fredriksen himself.
A key development now involves Fredriksen’s daughters, Kathrine and Cecilie.
“We have become much more involved in the business in the last year and took part in the process of recruiting Jo,” said Kathrine.
She sits on the board of drilling company Seadrill, while her twin, Cecilie, is a board member of Frontline and the world’s largest salmon-farming entity, Marine Harvest.
Property involvement
Both are involved in the group’s property investments.
“We are a high-risk group and are exposed to big risks both on the shipping and offshore side,” said Fredriksen, speaking to TradeWinds at The Old Rectory, his home in Chelsea, London. “Cecilie and Kathrine have been conscious that we should put part of the fortune in real estate. Their philosophy of diversification is behind the investments in [the companies] Norwegian Property and Entra.”
Kathrine said: “Cecilie and I are very different as types and [in our] interests. But we complement each other very well. We are lucky to have each other.”
Both the owner’s daughters view the appointment of Lunder as very positive. They say the largest team possible is being put together to position the business for exploiting whatever “possibilities that lie ahead”.
Last summer, Fredriksen terminated his co-operation with Tor Olav Troim, his right-hand man for many years. Fredriksen does not want to comment on why the two split but praises Troim for his efforts to develop the group.
“Tor Olav has done a great job in developing new companies,” said Fredriksen. “And he is a fantastic salesman. I am sure he could sell sand in the Sahara.”
source:www.tradewindsnews.com
