Global marine fuels group Bunker Holding has appointed Peder Møller as its new group CEO, succeeding Keld R. Demant, who steps down after 27 years with the company.

The leadership handover takes effect on October 6, the company said in an email statement on Tuesday.

Møller joined the firm in 2016 and returned last year from sister company Global Risk Management, where he served as CEO.

He has been part of Bunker Holding’s executive management since November 2024 and was a key figure in shaping the group’s Fit for Future strategy.

Demant, who became CEO in 2013 after joining as Sales and Marketing Director, oversaw the company’s transformation into the world’s largest bunker supplier, growing revenues from $0.2 billion to $13.7 billion.

He will stay on as Senior Advisor to parent firm USTC Group.

“Under Keld’s leadership, the company has grown to become the world’s largest bunker supplier, Klaus Nyborg, chairman of the board, said.

“He has spearheaded global expansion, delivered impressive results, and most recently strengthened Bunker Holding’s role in the green transition.”

“Going forward, Bunker Holding’s Executive Management will consist of: Peder Møller, CEO, Michael Krabbe, CFO and Anders Grønborg, CCO,” the company said.