Bermuda-based Ship Finance International Ltd. has promoted Ole Hjertaker as the new CEO of its management company.

Mr. Hjertaker is currently serving as chief financial officer of the company, a role he has performed since 2006, and will assume his new role with effect from July 1, 2009.

His prior experience includes 12 years as a corporate and investment banker, mainly within the maritime/transportation industries, and he holds a Master of Science degree from the Norwegian School of Economics and Business Administration.

Chairman of Ship Finance, Hans Petter Aas, said: "Mr. Hjertaker has, during the three-year period as chief financial officer, demonstrated a strong ability to identify and develop new business opportunities for the company."