Norway's Wilhelmsen group has unveiled a "redesign" of its organisation as part of a $500m drive to move further into renewables and decarbonisation.

The idea is to intensify growth of both its maritime services, shipmanagement and insurance division, and the renewable energy and decarbonisation arm, which will be called New Energy.

A board meeting was held in Oslo on Wednesday to finalise the details, with Jan Eyvin Wang, currently the senior vice president for strategic investments, confirmed as the leader of New Energy.