Kristian Rokke, the son of Norwegian billionaire Kjell Inge Rokke, will take over as president and CEO of Aker Philadelphia Shipyard, effective April 5.
Rokke, 27, is currently senior vice president of operations at the Philadelphia yard. He has worked in key operating positions for four years.
Rokke's father, Kjell Inge Rokke, engineered the deal in 2001 to take over the former Kvaerner Philadelphia Shipyard, which was in trouble and flirting with bankruptcy.
The younger Rokke succeeds Jim Miller, who will become executive vice president of Aker Contractors' US Onshore Engineering & Construction business and member of Aker Contractors' new executive management team.
Miller has been nominated to be the shipyard's new chairman, succeeding Karl Erik Kjelstad, who plans to resign at the annual meeting April 5 in Oslo, Norway.
In a statement, Kristian Rokke said he was "looking forward to working together with the strong management team" and with the Philadelphia Metal Trades Council, which represents 11 unions, "to meet the challenges going forward."
His father, the elder Rokke, owned successful shipyards in Europe and became majority owner of the Kvaerner shipyard, now Aker, in the early 2000s.
Kjell Rokke at one time owned more than half the shares in a $6 billion empire with 40,000 employees engaged in shipbuilding, engineering, fishing, real estate, satellite launching and other endeavors, according to a published report in The Inquirer.
In his new job, Rokke will lead the transition of the shipyard to win new orders to build oceangoing commercial vessels under the U.S. Jones Act, particularly container ships, dry cargo vessels and barges "which are expected to be key future markets," the company said.
The 90-year-old Jones Act requires U.S.-made and operated vessels to transport goods between U.S. ports.
Gov. Corbett last month approved giving the shipyard $42 million in taxpayer dollars to keep it operating and build two more ships on spec.
Under the terms, the Norwegian parent company, Aker ASA, committed $210 million to complete the two oil tankers, even though no buyers are lined up, through private investment - its own equity, through a guarantee from Aker ASA, and private construction financing.
Without the financing, the shipyard would have closed by July.
Aker, which once employed more than 1,000 at the Navy Yard, has laid off hundreds of workers and last month about 400 remained on the payroll.
Aker has built and sold 15 oceangoing commercial vessels. The 16th ship, which has a buyer, will be completed in May. Because of the economy and a downturn in shipbuilding, Aker has no new orders.
Contact staff writer Linda Loyd at 215-854-2831 or lloyd@phillynews.com.
