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Hick was the company's longest serving independent director, having joined in 2002.
Knudsen has been a member of the board since 2010, guiding Hudson's activities in Greenland and Denmark.
He knows Greenland business well, as he was CEO of Royal Greenland from 2007 to 2011 and prior to this was CEO of Air Greenland, CFO of ECCO shoes and VP finance of Cominco's Black Angel mine in the country.
Shields was most recently president of Island Tug & Barge before it was sold, which he grew over 30 years to be a large bulk transporter.
