The Supervisory Board of Hapag-Lloyd AG appointed Mark Frese to the Executive Board effective 25 November 2019. On 1 March 2020, he will become the new Chief Financial Officer (CFO), replacing Nicol's Burr. Mark Frese was most recently employed as the Chief Financial Officer of Ceconomy AG, the former Metro AG.

Before that, he held various management positions at Metro AG and Kaufhof Holding AG. Nicol's Burr will be leaving the company on 29 February 2020 to pursue new projects in Chile. He began serving as CFO of Hapag-Lloyd AG in March 2015.