The Japanese liner shipping company Mitsui O.S.K. Lines (MOL) has announced a change in management. On April 1 of next year, Jotaro Tamura will be appointed as the company’s new President and CEO. He succeeds Takeshi Hashimoto, who will take over as Chairman of the Supervisory Board.
“In a rapidly changing business environment, it is essential to overcome multiple management challenges – such as setting strategic direction, managing operations and engaging with key stakeholders, including investors, the stock market and financial institutions – to achieve sustainable growth,” said Hashimoto. “A smooth transition to a management structure geared towards the next generation is therefore crucial.”
His successor Tamura has been with MOL since 1991 and has worked in Tokyo, London, Hong Kong and Singapore. He is currently Managing Director of the Containership Business Division in the East Asia, Southeast Asia and Oceania regions.
“I believe that as a leader, I must not only make balanced decisions and act based on a broad perspective and foresight, but also strengthen teamwork within the management team,” said Tamura on the occasion of his appointment.
Mitsui O.S.K. Lines, founded in 1872, is one of the largest shipping companies in the world today. MOL includes other subsidiaries that specialize in bulk shipping and car transport, as well as ferries and cruises. More than 700 ships sail in the company’s fleet. MOL and the two other major Japanese container shipping companies NYK and K-Line operate their container business together as Ocean Network Express (ONE). With a capacity of over 2 million TEU, ONE is the sixth largest liner shipping company, behind Hapag-Lloyd (2.4 million TEU) and just ahead of the Taiwanese shipping company Evergreen (1.94 million TEU).
In September, MOL presented a design for new LNG carriers with sail propulsion. The “Wind Challenger” technologies are a building block in the company’s strategy to operate completely climate-neutrally by 2050.
