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USTC to appoint new Head of Corporate Governance; effective 1 September 2021

02 Jun 2021

United Shipping & Trading Company (USTC), the parent of Bunker Holding Group, is appointing Mia Østergaard Nielsen, daughter of USTC Founder Torben Østergaard-Nielsen, as Head of Corporate Governance.

She will assume the position on 1 September 2021 and will report directly to CEO and owner Torben Østergaard-Nielsen.

Mia has been a member of the board of USTC’s largest unit, Bunker Holding, since 2018 and in 2020 further joined the boards of USTC and Uni-Tankers.

Her sister, Nina Østergaard Borris, 37, was employed in the group’s largest unit, Bunker Holding from 2014-2020, before she was appointed Chief Operating Officer of USTC in 2020 with overall responsibility for business optimization and business development.

Mia’s entry into the company underlines the strong family ownership in the global group, where all three owners are now actively involved.

“There is no doubt that Mia’s accession completes the circle, and I look forward to working with both of my daughters to further develop USTC,” says Torben Østergaard-Nielsen.

“They both have some very forward-looking ideas and thoughts, and I know that together we will form a strong alliance,” Torben added.

The head of corporate governance role is part of the growth journey that USTC has been on recently, such as through acquisitions of companies CM Biomass and FREJA Transport & Logistics. 

Mia has worked and studied in both London and Singapore and has a Masters in Human Resources from the Copenhagen Business School. 

At USTC, she will ensure that the profile requirements for c-suite positions in the group are in line with the strategic objective and the DNA of the owner family, and that the various boards continue to have the optimal composition.

As part of the updated governance structure, USTC will also put more focus on sustainability. 

She will create a basis for increased efforts and future work with both USTC and the group’s subsidiaries on environmental, social and corporate (ESG) initiatives.

“Becoming a full member of the active ownership of USTC has long been on the cards, and it is a great privilege to help lead USTC into an exciting future,” says Mia Østergaard.

“At the same time, I am humbled by the task and am fully aware that I am still a young leader who has a lot to learn. But with the family values running in my veins and my many years of close work with the USTC boards, I am ready to work with the many talented colleagues in the group.”

USTC, which has been headquartered in Middelfart, Denmark since 1981, has an equity of more than DKK 3 billion (USD 493 million) with sales of DKK 76 billion in the most recent financial year.

United Shipping & Trading Company (USTC) is present in more than 30 countries through its

worldwide portfolio of activities that include oil & energy, shipping & logistics, ship owning, risk

management, and IT.

USTC was founded in Fredericia, Denmark, in 1876. Today, the family-owned group consists of well-

known companies like Bunker Holding, SDK FREJA, Uni-Tankers, Selected Car Group and Unit IT covering approximately 130 offices and occupying around 3,500 employees combined worldwide.


Photo credit: USTC
Published: 2 June, 2021

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