Lerenius to retire from ABPH in early 2007

Mr Lerenius, who turns 60 in December, became chief exexutive of ABPH in 1999, and has been responsible for refocusing the group’s core ports and transport business. Since 2000, it has secured nearly 90 significant new customer agreements, has achieved 36% growth in its UK ports business and has more than tripled its market capitalisation. ABP is the UK’s leading ports operator, handling almost a quarter of the country’s seaborne trade.

Before joing ABPH, Mr Lerenius held senior positions at Stena Line. “I have thoroughly enjoyed my seven years at ABPH,” he said. “Now the transition to Admiral’s ownership is complete, I feel it is time for me to retire, but I can leave feeling confident that a first-rate management team is in place to focus on delivering future growth.”