DK Group Appoints New Chief Executive

DK Group Appoints New Chief Executive

DK Group, one of the world’s leading maritime technology companies, today announced the appointment of Katia Kardash as its new CEO.

Ms Kardash, joined the company at the beginning of 2010 in an operational capacity to support the development of the business plan for the retrofit version of its ACS (Air Cavity System) technology, and will now take over the reins as Chief Executive to lead the company through its next phase of growth. This will include taking ACS Retrofit to market, as well as generating further institutional investment to support the company’s growth objectives. Former CEO Ken Bloch Sørensen, whose experience of the shipping industry and networks has been vital in shaping the company’s plans, continues as a key member of the team on the Supervisory Board.

Katia Kardash has extensive experience in international corporate finance, private equity and capital markets. She has completed a number of strategic advisory projects, both independently and for the Monitor Group in both the UK and Russia, including advising on IPOs, the formation and launch of private equity funds, and strategic consulting for Russian companies seeking domestic and international growth.

Katia Kardash, CEO, DK Group, said:

“It is an important time for DK Group. Our retrofit product is the first of its kind within the industry and while we have the march on the competition, we must seize the opportunity in effectively taking it to market in order to remain in our leadership position in air lubrication technologies. We are already having positive conversations with a number of potential prospect customers, which indicates the strength of our asset. As well as this, we must continue to lay the foundations and create the right infrastructure that will support the company as it grows; this includes further high level appointments, one of which will be announced in the coming weeks.”

ACS, which can reduce CO2 emissions and associated fuel costs by 10%, can be installed on existing and newbuild vessels for many classes of vessels in the ocean-going commercial fleet, including: tanker vessels, containerships, bulk carriers, general cargo ships and LNG/LPG vessels. ACS will continue to be offered to ship owners building new vessels in tandem with ACS Retrofit.

About DK Group
Founded in 2000, DK Group is one of the world’s leading maritime technology companies. DK Group pioneered the development of Air Cavity System (ACS) for new and existing vessels to reduce a vessel’s fuel consumption and CO2 emissions by up to 15% - providing huge cost savings for ship owners and reducing the shipping industry’s impact on global warming.