1 of 1
Story summary
- Gunvor Group Chief Executive Torbjorn Tornqvist will step down and sell his 86% stake in a management buyout.
- U.S. accusations label Gunvor as the Kremlin's puppet.
- Gary Pedersen, formerly head of Gunvor Americas, will succeed Tornqvist.
- The buyout will be funded by employee equity and a vendor loan from Tornqvist.
- Torbjorn Tornqvist co-founded Gunvor in 2000 and has led it for 25 years.
