Bunker Holding has appointed Jacob Nørgaard as chief financial officer, replacing Michael Krabbe, who is stepping down by mutual agreement.
Nørgaard joins the marine fuel supplier from sister company Global Risk Management (GRM), where he has served as CFO for the past four years.
At GRM, he has worked on commodity risk management, risk reporting and the links between finance and commercial operations.
Bunker Holding said the appointment comes as the marine fuel sector faces changes in fuel types, trading patterns and competition.
The company has been shifting its strategy towards growth, a simpler global structure and closer cooperation across its business since Peder Møller became CEO in October 2025.
Nørgaard will focus on bringing Bunker Holding’s finance organisation closer together and making better use of its expertise in risk and performance management.
The company said the move is intended to support faster decision-making and provide greater financial support to its commercial operations.
“Jacob is not only an excellent CFO, but he also knows our business, our market, and the risks we work with every single day,” said Møller.
He added that Nørgaard’s hands-on approach fits the company’s direction for its finance function.
Krabbe leaves Bunker Holding after eight years with the company. During his tenure, he helped develop its finance function and strengthen its commercial focus.
Bunker Holding Chairman Nina Østergaard thanked Krabbe for his contribution and said Nørgaard’s appointment reflected the group’s ability to develop talent internally.
“Michael has been part of an important period in Bunker Holding’s development and has made a strong contribution to building and strengthening the financial platform the company has today,” she said.
Østergaard added that Nørgaard’s existing knowledge of the business and company culture would provide a strong starting point in his new role.
