Mitsui OSK Lines (MOL) has named 38-year company veteran Takeshi Hashimoto as its next president and chief executive.

He is set to take over the post from present incumbent Junichiro Ikeda on 1 April. Ikeda has been named as the shipowner’s next chairman.

The decision was taken at a board of directors meeting held on Friday in Tokyo, the world’s second largest shipowner confirmed.