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MAY 10, 2004 (newstodate): In a surprising move, Danish freight forwarding company Mahe's CEO, president and majority shareholder, Steen Vedel, has stepped down on May 6.
Replacing him to constitute the company's top management are Jorgen Jessen and Allan Melgaard, who take over after serving as the company's executive VPs.
According to Mahe, Steen Vedel was forced to leave his position after pressure from the company's minority shareholders, and the company's banks.
Mahe, howver, denies any problems with its banks, and says the management reshuffle has been welcomed and accepted by banks, customers and business partners alike.
Mahe also says more detailed information will be provided and a press release will be issued by next week when the company's chairman of the board returns after travels.
Replacing him to constitute the company's top management are Jorgen Jessen and Allan Melgaard, who take over after serving as the company's executive VPs.
According to Mahe, Steen Vedel was forced to leave his position after pressure from the company's minority shareholders, and the company's banks.
Mahe, howver, denies any problems with its banks, and says the management reshuffle has been welcomed and accepted by banks, customers and business partners alike.
Mahe also says more detailed information will be provided and a press release will be issued by next week when the company's chairman of the board returns after travels.