John Fredriksen wants to retire. And will not let the daughters take over the business empire.
He is probably best known for his tankers and oil rigs, but it is in fish farming John Fredriksen has his greatest values - as the largest shareholder in the salmon giant Mowi. His shareholding in Mowi is worth EUR 1.6 billion. According to Bloomberg, he is worth more than EUR 7.4 billion.
In a frank interview with shipping newspaper Tradewinds, John Fredriksen said he wants to retire.
“It will be nice to finally transfer more responsibility and even more ownership to others. I’m looking for people who can take over,” said Fredriksen.
“There must be people who are smarter than me, who think long-term and can take this longer,” the magnate added.
Fredriksen has decided that his twin daughters Cecilie and Kathrine Fredriksen will not take control of the companies. Cecilie Fredriksen is on the board of Mowi.
“My daughters should not have to live with the work every day I have had,” he said.
Fredriksen is looking for investors, but thinks he will remain the largest shareholder in the companies empire, even if he leaves control to someone else. Fredriksen emphasized that with this he does not put the Fredriksen group at risk, writes Dagens Næringsliv.
“I want to continue shipping business privately, own and operate a few ships alongside all the listed companies. For me, this would be to go back to my roots in a way,” he told TradeWinds.