Paddy Rodgers, the CEO of Belgium’s tanker shipping company Euronav, has decided to step down from his role during 2019 after 18 years of service.
The company would now commence a recruitment process for a new CEO with Paddy remaining in his position until a successor is appointed to facilitate an efficient transition period.
“It has been a real honour and privilege to lead Euronav as CEO. The company has progressed from a family operation with 17 vessels to the largest crude tanker company in the world with 73 vessels, listed on both Euronext and NYSE,” Paddy Rodgers, CEO of Euronav, said.
“Having now completed in full the Gener8 merger I wish to pursue other opportunities and believe it is an appropriate time to hand over the baton of leadership of a strong and best-in-class large crude tanker business,” he added.
“We respect Paddy’s decision to step down after transforming Euronav under his stewardship. Euronav is in a strong position with sector low leverage, substantial liquidity and operational flexibility to take on the challenges from the tanker market going forward. Euronav’s strategy remains unchanged and the board and management team look forward to building on the legacy created by Paddy,” Carl Steen, Chairman of Euronav, commented.