Korean takes the reins at STX Europe

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Seoul: STX Offshore and Shipbuilding veteran Sang-Ho Shin is taking over from Torstein Dale Sjøtveit as president and ceo of STX Europe. Shin had been coo since September 2008, following the Korean conglomerate’s dramatic takeover of Aker Yards.
"After completing the restructuring, STX Europe is ready for a new phase and I consider this to be the right time for me to move on," said Sjøtveit.
"Mr Sjøtveit has been instrumental for the successful execution of the turn-around processes. He has brought valuable contributions to the group in this transition period, improving the shipbuilding operations and integrating the business with STX", said the chairman of STX Europe Kyung Jin Hong. [19/05/09]