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ASiA
SinGAPore/norwAy tAiwAn
Andreas Sohmen-Pao
Sharing his father’s
expansive outlook
BW Gas’ growing influence is down to
Andreas Sohmen-Pao
ANDREAS Sohmen-Pao’s moves to expand the scope of BW
Gas, a subsidiary of BW Group which is one of the world’s
largest shipowners in tonnage terms, attest to his commitment
to innovative solutions and showcase his role as now much
more than a rising star in the shipping and energy industry.
At the age of 41, he has paid his dues after entering the
family business in 1999, but still qualifies as part of the next
generation of shipping’s movers and shakers as long as his
father, Helmut Sohmen, remains active in the industry.
Unfortunately the son was travelling on business when
Lloyd’s List contacted the company for a chat, but a fair bit is
known about him and his company to appreciate what it has
done to merit inclusion.
For instance, the expansion was a canny bit of business,
with the son creating a joint venture with InterEnergy Holdings
last December to build a liquefied natural gas terminal on
the southeastern coast of the Dominican Republic in the
Caribbean, providing business for BW Gas’ own fleet of 13 LNG
carriers to ship cargoes to the terminal.
The company called this an “all-encompassing logistics
solution” to bring gas to the Dominican Republic.
Mr Sohmen-Pao is no stranger to such innovative solutions.
A previous initiative involved refinancing by offering some
of the company’s tanker fleet to its bankers as collateral in
exchange for greater financing flexibility.
With these decisions, he has proved he is much more than
his academic credentials – which, by the way, are impeccable
– and has the ability to exert BW Gas’ influence on the industry.
The role of gas in the global energy mix is rising high on
most countries’ agendas. BW Gas is in the right place at the
right time, as is its chief executive.
Innovative approach:
Andreas Sohmen-Pao
44 next generation 2012
evergreen
evergreen founder
draws the line at
family succession
Chang Yung-fa has said none of his sons
will control the Taiwanese company
EVERGREEN founder and chairman Chang Yung-fa once
famously declared that none of his sons would succeeded him
as head of the company, and that he would rather bequeath
day-to-day responsibility for the group to the senior managers
who had helped him build up his business empire.
That was five years ago, but nothing much seems to have
changed in the interim.
Dr Chang, now in his mid-eighties but very much in control
of one of the world’s top container shipping lines, still seems
estranged from his children.
At one stage, all four of his sons had quit Evergreen, but one
has since returned.
Chang Kuo-wei, the youngest, is president of the group’s
airline, Eva Air.
In contrast to most of his peers, Dr Chang seems unconcerned
about founding a shipping dynasty, although he has held out
the possibility that one day some of of his grandchildren may
rise to the top of the Taiwanese group.
In the meantime, he is surrounded by a close-knit group
of senior executives, including his second-in-command SS
Lin, Evergreen Marine Corp chairman Bronson Hsieh, and
vice group chairman Marcel Chang, who is in charge of all
Evergreen’s European interests.
“eventually, Dr Chang says he
would prefer to be succeeded by
one of those from this inner circle
than by any of his sons”
Dr Chang has made it clear that he has no retirement plans.
Eventually, Dr Chang says he would prefer to be succeeded by
one of those from this inner circle than by any of his sons, two
of whom have worked for Evergreen Marine in the past. The
eldest was president of Evergreen Marine Corp at one stage, as
was third son Chang Kuo-cheng.
But while apparently not held in high regard by their
father for their management skills, the sons may well inherit
the company one day. And that leaves open the question of
whether they will want to become directly involved in the
organisation, be content to let others run it, or even sell the
family business.