Hoegh Autoliners' chief executive and chief financial officer are leaving the company after heftly losses in the privately owned company.

CEO Ivar Hansson Myklebust has been replaced by the Oslo-based company's by Hoegh group veteran Thor Jorgen Guttormsen. CFO Ingrid-Due Gundersen is also leaving the company. Chairman Leif O Hoegh said there is no secret that Hoegh Autolines has had poor results, but he insisted that they left voluntarily.