After 27 years with Bunker Holding, Keld R. Demant is handing over the baton as CEO to Peder Møller, who will take up the role of Group CEO of the bunker supplier. The leadership transition will take effect on October 6.
Since November 2024, the 39-year-old Peder Møller has been part of Bunker Holding’s executive management.
When Peder Møller first joined Bunker Holding in 2016, it was as group strategy and new business director, where he helped shape the company’s then-current strategy. Prior to that, he worked on developing and implementing commercial strategies across Europe and Asia at Carlsberg Group.
Nearly a year ago, he returned to Bunker Holding from sister company Global Risk Management, where as CEO, according to USTC, “he led a comprehensive revitalization of the business.”
To remind, Bunker Holding is the largest company within the Danish, family-owned United Shipping & Trading Company (USTC).
Peder Møller holds a master’s degree from Copenhagen Business School, an executive MBA from INSEAD, and has completed the executive leadership program at Harvard Business School.
On the other hand, Keld R. Demant joined the company as sales and marketing director and, since 2013, has served as CEO. He will assume the role of senior advisor to the USTC Group.
Bunker Holding’s new executive management will consist of Peder Møller as CEO, Michael Krabbe as CFO and Anders Grønborg as CCO.
“When I first joined Bunker Holding as a young executive assistant, Keld was my mentor for several years. He has left a strong mark on the organization and has been a unifying figure. But given the recent market developments and the implementation of a new strategy, it is the right time to bring in new energy. Peder has already proven his commercial strengths, and the ongoing transformation of Bunker Holding is clear proof of his ability to make things happen,” says Nina Østergaard, USTC CEO and co-owner.
From his side, Torben Østergaard-Nielsen, founder and co-owner of Bunker Holding’s parent company, USTC, commented: “Since I hired Keld 27 years ago, our relationship has grown into a strong and unique partnership. His ability to lead and turn visions into actions has been invaluable. Together we have navigated countless challenges, and I am pleased that we will continue our collaboration in a new capacity, as Keld will remain on board as Senior Advisor to the USTC Group.”
