Bo Lerenius, chief executive of Associated British Ports, is due to retire on 31 March 2007 having overseen Admiral’s takeover of the company.
Prior to joining AB Ports Holdings, Lerenius was vice-chairman of Stena Line and director of New Business Investments of Stena AB. He is a non-executive director of Land Securities group plc and Group 4 Securicor plc and deputy chairman of the Swedish Chamber of Commerce for the UK. He was awarded an honorary CBE for services to the British ports industry in 2005.
Lerenius said: “I have thoroughly enjoyed my seven years at ABPH. Now the transition to Admiral’s ownership is complete I feel it is time for me to retire, but I can leave feeling confident that a first-rate management team is in place to focus on delivering future.”
He is expected to become a non-executive director of the group.
AB Ports Holdings confirmed that the process to recruit a new chief executive is now under way.