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Former Odfjell boss who went to prison takes over at Frontline.
(From Lloyds List)
Byline: David Osler
FRONTLINE has appointed Bjorn Sjaastad, the former Odfjell boss who went to prison in connection with the chemical tanker cartel scandal, as its chief executive.
Mr Sjaastad replaces Oscar Spieler, who will remain with Frontline, albeit in a lower profile role.
The appointment of Mr Sjaastad crowns his industry comeback after he left his job as Odfjell managing director in 2004 following accusati- ons that leading chemtanker companies engaged in price-fixing.
According to an announcement at the time, he pocketed a NKr5.2m ($770,000) pay-off as well as NKr4.3m in capitalised pension rights.
After entering into a plea bargain with the authorities he went on to spend four months in prison in the United States and paid a fine of $250,000.
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