Farstad Appoints Bakken as New Managing Director

The Board of Farstad Shipping ASA has appointed Karl-Johan Bakken as new managing director in Farstad Shipping ASA.

He will succeed Terje J.K. Andersen who will retire in May 2006. Karl-Johan Bakken will, however, take up his new position from January 1, 2006.

Karl-Johan Bakken, born in 1958, holds a M.Sc. in Naval Architecture from the Norwegian Institute of Technology in Trondheim (1984). He joined Farstad Shipping ASA with a 15 years experience from Ulstein/Rolls-Royce. He entered the position as COO in 1999.

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