TORM plc appoints Simon Mackenzie Smith as Chair of the Board

Rhea-AI Summary

TORM plc (Nasdaq: TRMD / TRMD A) announced that the Board appointed Simon Mackenzie Smith as Chair of the Board, effective December 16, 2025, succeeding Chris Boehringer.

The change follows a planned succession process and the Board emphasized continuity and long‑term value creation for shareholders. Chris Boehringer, who served as Chair since 2015, will remain a Board member. The release highlights TORM's strengthened financial position and continued development of the One TORM platform during Boehringer's tenure.

Positive

• Planned succession executed effective Dec 16, 2025
• Chris Boehringer to remain on the Board after serving as Chair since 2015
• Continuity and long-term value creation emphasized by the Board

Negative

• None.

Key Figures

Prior chair tenure start 2015 Year Chris Boehringer became Chair of the Board

Market Reality Check

$140.57 Last Close

Volume Volume 2,146,877 is slightly below 20-day average 2,259,501 (relative 0.95x). normal

Technical Price 140.57 is trading above the 200-day MA at 124.19, indicating a pre-existing upward bias.

Peers on Argus

While the stock was up 0.66%, key peers IQV, MTD, IDXX, WAT, and LH all showed negative moves (from -0.19% to -1.57%), suggesting the setup was more stock-specific than sector-driven before this governance news.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 01	Software compliance upgrade	Positive	-2.2%	Launch of 21 CFR Part 11 compliance software for RTCA eSight system.
Nov 24	Earnings results	Positive	+2.3%	Q4 FY2025 revenue and EPS growth with FY2026 and Q1 guidance.
Nov 21	Leadership transition	Positive	+4.3%	Announced CEO transition described as from position of financial strength.
Nov 19	Dividend announcement	Positive	+0.5%	Declared quarterly cash dividend of 25.5 cents per share.
Nov 19	Product launch	Positive	+0.4%	Introduced Altura Ultra Inert HPLC columns for biotherapeutics analysis.

Pattern Detected

Recent company-specific announcements have mostly seen price moves that align with the underlying positive tone, with one notable negative divergence on a favorable software compliance update.

Recent Company History

Over the last few weeks, the company reported several constructive developments. On Nov 24, Q4 FY2025 results showed revenue of $1.86B and solid EPS growth with FY2026 guidance. A dividend announcement on Nov 19 and a new Altura Ultra Inert HPLC product launch the same day underscored capital returns and innovation. A Dec 1 compliance software upgrade for xCELLigence RTCA eSight targeted regulated workflows. Against this backdrop of operational strength, today’s board chair transition fits into an ongoing governance and execution narrative.

Market Pulse Summary

This announcement details a planned transition in the role of Chair of the Board, with the outgoing chair remaining as a director and the company reiterating its focus on long-term value creation. Recent history includes earnings growth, a cash dividend, and new product introductions, suggesting an ongoing operational agenda alongside this governance change. Investors may watch subsequent strategic decisions, capital allocation updates, and future board communications to gauge how the new chair shapes priorities.

AI-generated analysis. Not financial advice.

INSIDE INFORMATION

HELLERUP, Denmark, Dec. 16, 2025 /PRNewswire/ -- TORM plc (Nasdaq: TRMD or TRMD A) is pleased to announce that the Board of Directors has appointed Simon Mackenzie Smith as the new Chair of the Board, succeeding Chris Boehringer. The appointment follows a planned process and reflects the Board's strong focus on ensuring continuity and long-term value creation for TORM and our shareholders.

Chris Boehringer was appointed Chair of the Board in 2015 and will continue to serve as a member of the Board. During this period, TORM has strengthened our financial position and continued to develop the One TORM platform, which has been fundamental to our continued market-leading performance.

"It has been a pleasure and an honor to serve as Chair of TORM. During this period, TORM has achieved significant long-term value creation for our shareholders, and I am confident that the competencies Simon Mackenzie Smith brings will support the continued development of TORM," says Chris Boehringer.

Commenting on the appointment, Simon Mackenzie Smith adds, "I am honored to join TORM and look forward to further strengthening the position of the company. Together, we will focus on delivering long-term value for our customers and shareholders."

About Simon Mackenzie Smith

Simon Mackenzie Smith is currently Chair of Dowlais Group plc and a non-executive director at Interpath Limited. Prior to this he had a 35-year career in corporate finance and investment banking. He has held senior leadership positions, most recently as Chair of Corporate and Investment Banking UK and Ireland at Bank of America Merrill Lynch. He brings extensive experience advising international companies in energy and related asset-intensive industries.

Contact
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002

Joakim Nørholm Vasehus, Head of Communications
Tel.: +45 3037 9012

About TORM

TORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.

Safe Harbor Statement as to the Future

Matters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.

The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.

In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.

Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

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27-2025 - TORM plc appoints Simon Mackenzie Smith as Chair of the Board

View original content:https://www.prnewswire.com/news-releases/torm-plc-appoints-simon-mackenzie-smith-as-chair-of-the-board-302643697.html

SOURCE Torm PLC

FAQ

Who is the new Chair of TORM plc (A) and when did the appointment take effect?

Simon Mackenzie Smith was appointed Chair, effective December 16, 2025.

Who did Simon Mackenzie Smith succeed as Chair of TORM (A)?

He succeeded Chris Boehringer, who served as Chair since 2015.

Will Chris Boehringer remain involved with TORM after stepping down as Chair (A)?

Yes; Chris Boehringer will continue to serve as a member of the Board.

What reasons did TORM give for the board chair change for ticker A?

The Board described the appointment as a planned process focused on continuity and long‑term value creation for shareholders.

What company initiatives did TORM highlight alongside the Chair appointment (A)?

TORM highlighted a strengthened financial position and ongoing development of the One TORM platform.