Tognum to Reduce Size of Executive Board
In January 2011, the first step taken by Tognum to establish a new global sales organisation came into force. The new organization is designed to improve the service and support provided for the company’s existing customers and above all to acquire new customers worldwide for its broadly diversified product portfolio. Peter Kneipp (53) joined MTU Friedrichshafen in 1989 as a project manager for marine propulsion systems. At an early stage in his career, Peter Kneipp was involved in projects that enabled him to acquire experience in the Asia-Pacific region, where he has worked since 1997 until the end of 2010. He initially spent several years in Singapore, where he was mainly involved in customer service and after sales.
Dieter Royal New CFO at Tognum
Friedrichshafen, 16 March 2011. The specialist for propulsion and power solutions Tognum decided at the meeting of the Supervisory Board on 14 March 2011, that Dieter Royal (47) will join the Executive Board as the new member responsible for the Finance and Corporate Services Division effective 1 October 2011. Dieter Royal succeeds Joachim Coers (46) as CFO, who replaces Volker Heuer (58) as CEO of the Tognum Group as of 1 October 2011. As announced in April of last year, Volker Heuer will then terminate his contract and go into retirement.
Insurer Entitled to Lien for Value of Insurance Provided
The U.S. Court of Appeals for the Eleventh Circuit ruled that an insurer that provides marine insurance for a vessel is entitled to a maritime lien for the value of the insurance provided. In the instant case, claimant provided marine insurance for a cruise ship. Arrangements were that the premium was to be billed in six installments spread over several years. The ship owner went bankrupt and claimant filed its claim in the subsequent admiralty proceeding. The district court ruled that the insurer was only entitled to a lien in the amount of the premiums for which it had sent invoices prior to the bankruptcy. The appellate court reversed, holding that the maritime lien arises automatically upon the furnishing of the necessary, without regard to when an invoice may have been issued.
