The CEO of Trencor will retire in June, the investment holding company said on Thursday. Jimmy McQueen, a four-decade company veteran, will be replaced by Hennie van der Merwe, a part-time board member and former MD of Trencor. In November Trencor flagged it would swing into an unspecified annual loss due to the exposure of its marine container operator Textainer Group Holdings to South Korean container carrier Hanjin Shipping Company, which filed for bankruptcy protection last year. Textainer, which reported a $46m loss in the third quarter, had leased 6.4% of its fleet to Hanjin, it said in November. McQueen’s departure follows the retirement of Robert Pedersen, president and CEO of Textainer Equipment Management, and Isam Kabbani, a Textainer board member. Reuters
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