Nordisk directors, headed by chairman Terje Sorensen, pay tribute in the annual report to the strong performance of the mutual during Scheel’s years at the helm.

Scheel (65) who has been managing director since 2000 has spent 35 years as a Nordisk lawyer, including 29 in senior management.

Scheel has moved out of the Nordisk office but is keeping his hand in as a lawyer and arbitrator with a desk at the Scandinavian Institute of Maritime Law.