ONE Sets Management Transition with Founder CEO Jeremy Nixon Stepping Down
Ocean Network Express (ONE) announced what it is calling a “planned leadership transition,” which will see founding CEO Jeremy Nixon step down and be replaced by Till Ole Barrelet, along with that new management structure for the carrier. It is seen as the next step in the evolution of the carrier, which was formed a little less than a decade ago.
Nixon, who had begun his career at P&O Nedlloyd and later at Maersk, spent a decade working through the management levels at NYK Line from 2008 to 2017. He has risen to CEO of the container line and was selected to lead the merger of three disparate Japanese container lines into the new network widely known as ONE. He assumed the role of CEO of ONE in July 2017, overseeing its launch in April 2018, and is credited with pulling together the operations of the company.
Today, ONE is the sixth-largest container carrier with more than 260 vessels and a capacity exceeding 2 million TEU. Its ships are distinguished by the unique magenta livery (everyone says pink).
ONE was founded as a joint venture between “K” Line, Mitsui O.S.K. (MOL), and NYK Line. At the time, the three carriers said, “The move will allow Ocean Network Express to better meet customers’ needs by providing high-quality, competitive services through the consolidation and enhancement of the three companies’ global network and service structures.”
“As our founding CEO, Jeremy has helped build ONE from the ground up, establishing our corporate culture and market position,” said Jotaro Tamura, Representative Director and Chairman of the Board of Directors, Ocean Network Express Holdings. "We are deeply grateful for his strong leadership and vision in creating a resilient, financially strong company."
ONE reports it conducted a comprehensive search before selecting Barrelet, who is currently CEO of Emirates Shipping Line and has over 20 years of maritime and logistics experience. He previously held positions with Bernhard Schulte, CMA CGM, and CNC before becoming CEO of ESL in June 2022.
Under the transition plan, Barrelet will join ONE on May 1 as CEO Designate. He will officially succeed Nixon on July 1, with Nixon transitioning to the role of Senior Advisor.
In addition to the CEO succession, ONE reports that to better position the company for its next phase of growth, ONE will transition to a new Executive Management Team structure comprising the CEO and seven representatives from across all its divisions. The new Executive Management Team, together with a further six regional leaders, will report to the CEO. It says this expanded leadership structure will facilitate closer collaboration across a global matrix structure at ONE.
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The change in leadership comes at a challenging time in the industry. ONE continues as one of the three partners in the reformulated Premier Alliance, which was launched in February 2025 with HMM and Yang Ming after Hapag-Lloyd left the former The Alliance. A month ago, ONE reported a net loss of US$88 million in its third quarter with revenues of just over $4 billion. The company forecasted a small profit in its FY Q4 and for the full year, a profit of $310 million, down from $4.2 billion in FY24.
Nixon had told investors the results reflected a “challenging operating environment as we continue to navigate the complexities of the current global landscape.” The company highlighted that freight rates remained lower than in FY24 and that cargo movement in the Asia–North America trade had slowed while it was seeing a gradual recovery on the Asia–Europe routes.
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