Former Ocean Yield boss Lars Solbakken has decided 40 years of front-line roles in shipping and finance was more than enough.

The Norwegian sale-and-leaseback shipping company said on Friday that its experienced chief executive had opted to leave with immediate effect.

Solbakken had been with the company for 12 years.

He told TradeWinds: “After 40 years in shipping and ship finance, I am happy to step down as CEO of Ocean Yield.