FormerNeptune Orient Lines chief Jacobs is retiring from the bank’s board with formerNordea shipping chief Karl Steen talking his place.

WolfgangDriese, CEO and chairman of the board of managing directors, pays tribute toJacobs’s invaluable advice during his eight years with DVB.

“And,I am also delighted that we have been able to gain Carl Steen, an outstandingexpert in the area of shipping finance, who will continue Mr Jacobs’ successfulwork,” he said in a statement.