Magnús Þorsteinsson Chairman of the Board of Hf. Eimskipafélag Íslands announced at a Board meeting today that he will resign from his duties at a Chairman of Board with immediate effect. Magnús holds a controling interest in the company. Sindri Sindrason was, appointed Chairman of the Board by the Board members at the meeting. A new Board of Directors will be elected at the next annual general meeting which will be helt before the end of February 2008. Magnus Thorsteinsson former Chairman: „I´ve had good times with Eimskip and the company has achieved its goals. The vision is clear and its a time for me to resign at this point. I´ve thought about this for a long time and now is the right time for me to leave. I´ve been in business in close to two decades with a lot of travelling and I´ve needed to spend a lot of time away from my home in Iceland. Now I want to focus on other things. I say farewell to Eimskip content and believe that the company can provide good earnings for its shareholders in the future if things will be well managed. I want to use this oppertunity and thank the Board of Directors, CEO and all the good employees of the company that I´ve been in contact with for good cooperation.” Sindri Sindrason Chairman: „Magnús has accomplished good things during his time with the company. I want to wish him all the best in his future projects on behalf of the Board of Directors now that he has announced his decision. Magnús has done good work for the company and he will be missed. We respect his decision.“ Magnus's decision is not related to the decision of the Competition Authority of Iceland in any way. Magnus was not connected to the company in the era that the case reaches to. Further information: Sindri Sindrason, Chairman, tel: 354 525 7202 or 354 825 7202
Magnús Þorsteinsson resigns from the Board of Directors of Hf. Eimskipafélags Íslands
| Source: Hf. Eimskipafélag Íslands