At its recent meeting in Oslo, Jacob Stolt-Nielsen, 70, informed the Board of Stolt-Nielsen S.A. that as part of the handover of his responsibilities he whished to resign as chairman of the Stolt-Neilsen Transportation Group Limited (SNTG), the Group's chemical transportation business. Jacob Stolt-Neilsen is the founder of SNTG and has been its chairman since 1959. As a pioneer of the deep sea, multigrade parcel trade in chemicals and other specialty products, he remains chairman of SNSA, Stolt Offshore S.A. and Stolt Sea Farm Holdings. The board of SNSA decided to appoint Samuel Cooperman, 56, as the
new chairman of SNTG, taking on the responsibilities with immediate effect and reporting to Niels Gregers Stolt-Neilsen, the CEO of SNSA. Reginald J.R. Lee, 57, who has been acting CEO of SNTG, was promoted to CEO and given full responsibilities for the management of the business.