Though he remains the chairman of the companies, ownership and CEO functions are retained by his daughter Anette S. Olsen. In addition to his jobs within the Fred. Olsen group he was for a period also chairman of the Aker Group.
He continues as chairman of the companies despite handing over operational duties to his daughter, Anette S. Olsen. He held the position of chairman for both the Fred. Olsen group and the Aker Group at different times.