NOL announces new group president and CEO

Neptune Orient Lines Limited (NOL announced that by mutual agreement with the Board of Directors, Dr. Thomas Held would step down from the position of Group President and Chief Executive Officer (CEO of the company on July 7th, 2008 and that Mr. Ronald Widdows would be appointed as the new Group President and CEO. Dr. Held has also resigned from, and Mr. Widdows has been appointed a member of, the NOL Board of Directors. The change-over is effective immediately.

Mr. Widdows is currently the CEO of NOL? container shipping business APL, and has held this position since 2003.

Dr. Held has been CEO of NOL since November 2006 and brought to the group extensive experience in global logistics. During his time at the helm of NOL, the company strategic direction was thoroughly reviewed and this has affirmed the clear intent to build a future position as a top global player in container shipping.

The group is pursuing a strategy of accelerated profitable growth in its core container shipping business. At the same time, it intends to continue investing to grow its capabilities in logistics and its terminals portfolio.

Mr. Widdows, 55, has been with the APL organization for 28 years, and has over 37 years of experience in the shipping industry. An American national, Mr. Widdows has held a range of senior executive roles across Asia, the United States and Canada, with a particular focus on operations.<Korea Shipping Gazette>