Bunker Holding, the world’s largest supplier of marine fuels, on Thursday (20 August) said the company has appointed Jacob Nørgaard as Chief Financial Officer (CFO), succeeding Michael Krabbe who is stepping down by mutual agreement.
In his new role, Nørgaard will support the execution of Bunker Holding’s ambitious strategy. The well-established finance organisation will be brought even closer together to strengthen collaboration across the Group and leverage the full range of Bunker Holding’s finance competences.
The aim is to create a more integrated global finance function that can better support the business, enable faster decision-making, and bring the right competences into play wherever they are needed.
At the same time, Nørgaard will help unlock the commercial potential of the company’s deep insight into risk management and performance management, drawing on his strong experience in commodity finance.
Nørgaard is already a familiar face in Bunker Holding and joins from his role as CFO of sister company Global Risk Management (GRM). Here, he has helped develop strong capabilities within commodity risk management, risk reporting, and the operational link between the business and finance.
Peder Møller, CEO of Bunker Holding, said: “Jacob is not only an excellent CFO, but he also knows our business, our market, and the risks we work with every single day. He also has a very hands-on approach, which fits well with the direction we want for Bunker Holding’s finance function.
“We also know each other well from a very strong working partnership at GRM, where, for four years, we made up two-thirds of the executive management team.”
At the same time, Krabbe is stepping down as CFO after being part of Bunker Holding for eight years and has played an important role in building a more strategic and commercially focused finance function.
Photo credit: Bunker Holding
Published: 21 August, 2026
