Damco appoints East European CEO

To enable the right focus on different market priorities, Damco has divided its Europe operations in two regions, East and West Europe. The decision is made in order to deliver growth, profitability and the goals of the overall strategy. New CEO of the East Europe region is Nicholas Kyrzakos, who moves from a position as Global CFO.

"The complexity of the European markets is large and diverse and in order to be successful in these markets there is a need to work with quite different strategies between the more mature and the growth markets," Damco CEO Rolf Habben-Jansen commented.

"I am happy that Nicholas has agreed to take responsibility as CEO of Eastern Europe and I am confident that this will ensure efficient decision making and a high level of focus," Habben-Jansen said.

CEO of West Europe Region remains Flemming Frost. Both the East and West CEO will report to Damco Global CEO Rolf Habben-Jansen.

"This is a very exciting opportunity," Nicholas Kyrzakos commented. "The European markets are full of very big challenges and I am looking forward to be working to bring Damco to its full potential in the countries in the Eastern region," he said.

Nicholas Kyrzakos brings more than 25 years of senior finance and management experience, extensive international business exposure, and a history of dealing with complex challenges. He holds an MBA in Finance.

For more information:
Douglas Cole
Director Marketing
Tel: +1 973-514-5126
[email protected]
www.damco.com