Stolt-Nielsen S.A. Appoints New Chief Executive Officer
London, England November 13, 2000 - Stolt-Nielsen S.A. (SNSA) (Nasdaq: STLTF, STLBY; Oslo Stock Exchange: SNIB) today announced that at its Board meeting yesterday the company appointed Niels G. Stolt-Nielsen (35) as Chief Executive Officer effective Dec.01.00. He succeeds the companys founder, Jacob Stolt-Nielsen, who held this post in SNSA and its predecessor companies for 41 years.
The appointment of Niels G. Stolt-Nielsen as CEO of SNSA is part of the companys long-term management succession plan. Following Christopher J. Wrights forthcoming retirement at the end of 2001, Jacob B. Stolt-Nielsen will take over his position as Chief Operating Officer.
Niels G. Stolt-Nielsen worked in the Stolt-Nielsen Transportation Group in Greenwich, Connecticut from 1990 to 1994 before transferring to Asia to establish Stolt-Nielsens representative office in Shanghai where he worked for two years. In 1996 he was appointed CEO of Stolt Sea Farm. Until the appointment of a successor in this post, Niels G. Stolt-Nielsen will combine his duties as CEO of SNSA with those of CEO of Stolt Sea Farm.
Niels G. Stolt-Nielsen, a Norwegian citizen, graduated from the Handelsgymnasium in Oslo in 1984 and from Hofstra University in New York in 1990 with a BS degree in business finance.
Jacob Stolt-Nielsen will continue to serve as SNSAs chairman and as chairman of its principal operating subsidiaries including the publicly traded Stolt Offshore S.A. (SOSA) (Nasdaq: SCSWF, SCSAY; Oslo Stock Exchange: SCS, SCSA).
Stolt-Nielsen S.A. is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through its parcel tanker, tank container, terminal, rail and barge services, provides integrated transportation for its customers. The Company also owns 53 percent of Stolt Comex Seaway S.A. (Nasdaq:SCSWF, SCSAY; Oslo Stock Exchange: SCS, SCSA), which is among the largest subsea services contractors in the world. SOSA specializes in providing engineering, flowline and pipeline lay, construction, inspection, and maintenance services to the offshore oil and gas industry. Stolt Sea Farm, wholly-owned by the Company, produces and markets high quality Atlantic salmon, salmon trout, turbot, halibut, sturgeon, and caviar.
Contact:
William W.Galvin
USA 1 203 618 9800
wwgalvin@galvinpartners.com
Valerie Lyon
UK 44 20 7611 8904
vlyon@stolt.com
This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Actual future results and trends could differ materially from those set forth in such statements due to various factors. Additional information concerning these factors is contained from time to time in the Company's U.S. SEC filings, including but not limited to the Company's report on Form 20-F for the year ended November 30, 1999. Copies of these filings may be obtained by contacting the Company or the U.S. SEC.
