Golden hello for Birgitte

The new finance chief of Golden Ocean, Birgitte Ringstad Vartdal, has been given a potentially valuable share option package almost as soon as she has walked through the doors of the Oslo run shipping company.

The 33 year old has only just started with Golden Ocean but picks up 200,000 of share options in a distribution announced this morning.

Depending on the fortunes of the dry cargo market the share options could be worth a great deal or nothing.

Golden Ocean shares were trading at as little as NOK 1.60 in early 2009 but approaching NOK 40 at the peak of the dry cargo boom three years ago.

If Golden Ocean’s shares ever reach those dizzy heights again then 200,000 shares would be worth well over $1m.

Ringstad Vartdal was recruited from Torvald Klaveness to replace Golden Ocean’s former finance chief, Geir Karlsen, in May but has only just switched jobs.

She has a MSc in financial mathematics so should have no problems keeping track of the value of her options.

She is also a director of her family’s Arendal based seafood and trawling company, Vartdal Fiskeriselskap.

Golden Ocean was also handing out share options to longer serving directors and executives today.

Chairman John Fredriken picks up 750,000 options and chief executive Herman Billung 250,000.

All the share options are at the same NOK 9.50 strike price and have a seven year term. One quarter vest anually over four years beginning in July 2012.

Golden Ocean has a fleet of five capesize and four panamax bulkers but more than 20 newbuildings on order.

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