Singapore shipping trust First Ship Lease has announced the resignation of Esben Poulsson from its board.
Poulsson, who is chairman of International Chamber of Shipping and president of the Singapore Shipping Association, resigned because he had several disagreements on issues with FSL chairman Tim Reid and certain independent directors.
In a statement to the Singapore Exchange, FSL said there had been a strong disagreement between Poulsson and Reid and some board members over “process in HR matters, where decisions have been reached by a majority of the board.”
Without elaborating further on the subject of the disagreements, FSL did say that Poulsson was of the view that the board was not working in a consensual manner and that he believed that he had no option but to resign.
FSL said that the disagreements are not on issues which would impact the financial performance of the trust.
Poulsson had been a board member since September 2014.