Overview
- Torbjörn Törnqvist will transfer his entire holding to a group of current employees, leaving the company without external owners.
- Gunvor appointed Gary Pedersen as chief executive, following his leadership of the North and South America division since 2024.
- The company did not disclose the financial terms of the ownership transfer.
- Gunvor said an employee buyout offer was first made in 2022 and that the sale was accelerated to enable a reset and to move past misconceptions about its past.
- Current Time reports that Gunvor recently abandoned a planned purchase of Lukoil’s overseas assets after the U.S. signaled it would not approve the deal.