Bunker Holding has appointed Jacob Nørgaard as its new chief financial officer, replacing Michael Krabbe, who is stepping down by mutual agreement after eight years with the company.

Nørgaard joins from his previous role as CFO of Global Risk Management (GRM), a sister company within the Bunker Holding group, where he is said to have developed capabilities in commodity risk management, risk reporting, and the operational interface between business and finance functions.

The appointment comes as Bunker Holding undergoes a period of strategic repositioning under CEO Peder Møller, who took over in October 2025. According to the company, that strategy involves a focus on growth, simplifying its global structure, and strengthening collaboration across the business.

In his new role, Nørgaard is expected to bring Bunker Holding's finance organisation closer together and help build a more integrated global finance function. He will also be tasked with unlocking the commercial potential of the group's capabilities in risk management and performance management.

Møller, who worked alongside Nørgaard at GRM for four years as part of the company's executive management team, stated: "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."

Nina Østergaard, chairman of the board and co-owner of Bunker Holding, paid tribute to the outgoing CFO while welcoming his replacement: "Michael has been part of an important period in Bunker Holding's development and has made a strong contribution to building and strengthening the financial platform the company has today."

Østergaard added: "I am very pleased that we can welcome Jacob as CFO. He already knows our business and our culture, and we know the qualities he brings to the role. That is a strong starting point. I also think it speaks to the strength of our group that we continue to develop talented people and appoint leaders from within our own organisation."

Headquartered in Middelfart, Denmark, Bunker Holding provides marine fuel, lube oil, risk management, and related services to the shipping industry. It forms part of the family-owned United Shipping & Trading Company (USTC). Companies under the Bunker Holding umbrella include Bunker One, Dan-Bunkering, Glander International Bunkering, KPI OceanConnect and Unioil Supply.