KNOT Offshore Partners LP today announced that Arild Vik has decided to
step down as CEO and CFO of the partnership. Although Mr. Vik is
resigning in order to pursue other interests outside of the partnership,
he will be available for the partnership until 30 July 2015. This
ensures that the Board has sufficient time to find a suitable
replacement to Mr. Vik when he steps down.
"I as Chairman would like to thank Arild for his dedicated effort and
passion. I have had the pleasure of working with Arild for thirteen
years now, the last two years as his Chairman. During his steady
leadership as CEO of KNOT Offshore Partners, Mr. Vik has been
responsible for the successful listing of KNOT Offshore Partners on NYSE
in April 2013 and the subsequent doubling of its fleet from four vessels
at IPO to now eight vessels. This has led to a growth in distributions
of about 30% to date with further distribution growth announced for the
first quarter 2015. On behalf of the Board, I would like to extend our
gratitude for the great work he has done for the Partners. We are very
pleased with the development of the partnership during his tenure and we
wish him the very best in pursuing other business opportunities.”
Trygve Seglem, the Chairman of the Board
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