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TORM A/S Appoints Mads Peter Zacho As New CFO

COPENHAGEN, Denmark, July 8, 2013 (GLOBE NEWSWIRE) -- Mads Peter Zacho (44) has been appointed new Chief Financial Officer (CFO) of TORM.

With an educational background as M.Sc. from the University of Copenhagen, Mads Peter Zacho began his professional career in banking working with Goldman Sachs Intl. and Unibank before joining the International Finance Corporation in Washington D.C.

Mads Peter Zacho was with Nordea in Copenhagen before being recruited to A.P. Moller Maersk, where he was appointed Deputy Head of Group Finance. He joined Svitzer in 2010 where he is CFO today.

"We are very pleased with the appointment of Mads. He has relevant experience from various positions in global organizations, and he has a unique insight into the financial and accounting aspects of the shipping industry," says Jacob Meldgaard.

As announced on 24 April 2013, Roland M. Andersen has chosen to resign from the CFO position in order to pursue other opportunities outside TORM.

Mads Peter Zacho will take on the position as CFO of TORM on 1 September 2013.

As a result of the restructuring process, the Board of Directors has decided that going forward the Executive Board only consists of the CEO.

Contact TORM A/S

Flemming Ipsen, Chairman, tel.: +45 3917 9200   Tuborg Havnevej 18
Jacob Meldgaard, CEO, tel.: +45 3917 9200   DK-2900 Hellerup, Denmark
C. Soegaard-Christensen, IR, tel.: +45 3076 1288   Tel.: +45 3917 9200 / Fax: +45 3917 9393
    www.torm.com
     
About TORM

TORM is one of the world's leading carriers of refined oil products as well as a significant player in the dry bulk market. The Company runs a fleet of approximately 120 modern vessels in cooperation with other respected shipping companies sharing TORM's commitment to safety, environmental responsibility and customer service. TORM was founded in 1889. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM's shares are listed on NASDAQ OMX Copenhagen (ticker: TORM) and on NASDAQ in New York (ticker: TRMD). For further information, please visit www.torm.com.

Safe Harbor - Forward Looking Statements

Matters discussed in this company announcement may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.  The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

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