RS Platou chairman Ragnar Horn has pulled away from the board of Clarksons even before a merger between the shipbroking heavyweights has been completed. London-listed Clarksons told the City this morning that Ragnar Horn was facing accusation Norwegian employment law regarding his personal arrangements for the employment of domestic personnel. Ragnar Horn was the largest shareholder in Platou and is set to assume a 7.14% stake in Clarksons once the deal is rubber stamped. “Whilst these alleged offences have no connection with his business affairs, Mr Horn has decided not to stand as a proposed director of Clarkson,” this morning’s statement said. Dn.no reports that the legal issues relate to the employment of au-pairs, who were paid to work additional hours beyond the legal limit and it is understood that incorrect information was provided to the authorities.
Ragnar Horn also employed two au-pairs in the family home, while Norwegian law sets a limit at one, it is suggested.
Ragnar Horn told the Norwegian publication he still supported the union and considered his investment in the enlarged company to be long-term.
Platou's chief executive Peter Anker, director Birger Nergaard and Ragnar Horn were set to be three ex-Platou faces on the board of the enlarged company.
Harvard Business School graduate Ragnar Horn has been chairman of RS Platou since 1999. His family have been shareholders in RS Platou for over 75 years. Ragnar Horn is also chairman of Dyvi Holdings and a director of of Viking Global Equities, Eiendomsspar, Victoria Eiendom and Berner Gruppen.