Frostad to stand down as Volvo Ocean Race chief

The Volvo Ocean Race is looking for a new chief executive after current incumbent Knut Frostad announced he will step down for family reasons.

The 48-year-old Norwegian took up his post in March 2008 and has overseen the past three editions of the sailing event in 2008-09, 2011-12 and 2014-15, having competed in four races dating back to 1993-94.

“With almost half of my life and a lot of passion invested in the race, it has been one of the most difficult decisions I have ever had to make,” Frostad said. “I am an ‘all-or-nothing’ person and this is an ‘all-or-nothing’ race. I now want to dedicate more of my time to my young family.”

Frostad will remain as chief executive until the end of 2015, while the search for his replacement is completed.