TORM Management
Management criteria checks 3/4
TORM's CEO is Jacob Meldgaard, appointed in Apr 2010, has a tenure of 8.33 years. total yearly compensation is $2.51M, comprised of 47.6% salary and 52.4% bonuses, including company stock and options. directly owns 0.27% of the company’s shares, worth DKK60.12M. The average tenure of the management team and the board of directors is 12.9 years and 8.3 years respectively.
Key information
Jacob Meldgaard
Chief executive officer
US$2.5m
Total compensation
| CEO salary percentage | 47.6% |
| CEO tenure | 14yrs |
| CEO ownership | 0.3% |
| Management average tenure | 12.9yrs |
| Board average tenure | 8.3yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2023 | US$3m | US$1m | US$648m |
| Sep 30 2023 | n/a | n/a | US$692m |
| Jun 30 2023 | n/a | n/a | US$785m |
| Mar 31 2023 | n/a | n/a | US$706m |
| Dec 31 2022 | US$2m | US$1m | US$563m |
| Sep 30 2022 | n/a | n/a | US$326m |
| Jun 30 2022 | n/a | n/a | US$94m |
| Mar 31 2022 | n/a | n/a | -US$10m |
| Dec 31 2021 | US$2m | US$1m | -US$42m |
| Sep 30 2021 | n/a | n/a | -US$74m |
| Jun 30 2021 | n/a | n/a | -US$59m |
| Mar 31 2021 | n/a | n/a | US$10m |
| Dec 31 2020 | US$2m | US$1m | US$88m |
| Sep 30 2020 | n/a | n/a | US$275m |
| Jun 30 2020 | n/a | n/a | US$265m |
| Mar 31 2020 | n/a | n/a | US$199m |
| Dec 31 2019 | US$2m | US$1m | US$166m |
| Sep 30 2019 | n/a | n/a | US$18m |
| Jun 30 2019 | n/a | n/a | US$2m |
| Mar 31 2019 | n/a | n/a | -US$12m |
| Dec 31 2018 | US$2m | US$1m | -US$35m |
| Sep 30 2018 | n/a | n/a | -US$29m |
| Jun 30 2018 | n/a | n/a | -US$9m |
| Mar 31 2018 | n/a | n/a | -US$1m |
| Dec 31 2017 | US$2m | US$1m | US$2m |
Compensation vs Market: Jacob's total compensation ($USD2.51M) is about average for companies of similar size in the UK market ($USD2.64M).
Compensation vs Earnings: Jacob's compensation has increased by more than 20% in the past year.
CEO
Jacob Meldgaard (55 yo)
14yrs
Tenure
US$2,513,000
Compensation
Mr. Jacob Balslev Meldgaard has been the Chief Executive Officer of Torm Plc since April 1, 2010 and has been its Executive Director since December 14, 2015. Mr. Meldgaard has many years of shipping experi...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 14yrs | US$2.51m | 0.27% $ 60.1m | |
| Chief Financial Officer | 4.3yrs | no data | no data | |
| Senior VP & Head of Technical Division | no data | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Senior VP & Head of Projects | 12.9yrs | no data | no data | |
| VP and Head of Corporate Finance & Strategy | no data | no data | no data | |
| Vice President | no data | no data | no data |
12.9yrs
Average Tenure
55yo
Average Age
Experienced Management: 0RG4's management team is seasoned and experienced (12.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 8.3yrs | US$2.51m | 0.27% $ 60.1m | |
| Independent Deputy Chairman & Senior Independent Director | 8.7yrs | US$219.00k | 0.0054% $ 1.2m | |
| Chairman | 8.7yrs | US$209.00k | 0.023% $ 5.0m | |
| Non-Executive Independent Director | 8.5yrs | US$156.00k | 0.0069% $ 1.5m | |
| Employee Representative Board Observer | 8yrs | no data | no data | |
| Non-Executive Independent Director | 4yrs | US$164.00k | 0.0029% $ 636.9k | |
| Employee Representative Board Observer | 3.9yrs | no data | no data |
8.3yrs
Average Tenure
58yo
Average Age
Experienced Board: 0RG4's board of directors are considered experienced (8.3 years average tenure).