After nearly three decades at Bunker Holding, Keld Demant is stepping down as CEO of the Danish fuel giant and one of the largest marine fuel suppliers, handing the reins to Peder Møller. The leadership change takes effect on October 6.
Møller (pictured in the middle), who joined Bunker Holding in 2016 and returned last year from sister company Global Risk Management, has been part of the group’s executive management since November 2024. He has played a central role in shaping and implementing the company’s “fit for future” strategy and is seen by the board as the natural choice to lead the group through its next phase.
Demant, who became CEO in 2013 after joining the company in 1997, has overseen Bunker Holding’s transformation from a $200m business into a global market leader with $13.7bn in revenues, more than 60 offices, and 1,300 staff. He will remain in the USTC Group as a senior advisor.
Chairman Klaus Nyborg credited Demant with driving international expansion and steering the company into the green transition, while founder and co-owner Torben Østergaard-Nielsen described his long-time colleague as a “strong and unique partner.” Bunker Holding’s new executive management will consist of Møller as CEO, Michael Krabbe as chief of finance, and Anders Grønborg as chief commercial officer.
