Hapag-Lloyd expands board following merger with UASC

M. Zapf/Hapag-Lloyd

Hapag-Lloyd has increased its supervisory board from 12 to 16 following its merger with UASC, appointing two additional members from the Arabian liner shipping company’s largest investors.

Prior to last week’s merger with Hapag-Lloyd, Qatar Investment Authority (QIA) held a 51% stake in UASC while Saudi Ports Authority held a 36% stake.

As part of the agreement, Hapag-Lloyd has appointed a representative from each to the board: Sheikh Ali bin Jassim Al-Thani, an advisor to the chief executive of QIA; and Nabeel Al-Almudi, ...