Eighty-three-year-old Stolt-Nielsen was chief executive of the company unit 2000 and relinquished the chairman’s seat in 2009.
Niels Stolt-Nielsen, chief executive of the tanker and terminals firm, said: “My father's presence at board meetings will be missed, but I expect we will continue to benefit, if only indirectly, from his most welcome counsel."
Stolt-Nielsen senior, described as a “visionary entrepreneur” in today’s statement, founded the family company in 1959 having previously worked as a shipbroker in Europe and the US.
