Shareholders have ousted Peter Georgiopoulos as chairman of Aegean Marine Petroleum Network. The Greek shipping tycoon is still the largest shareholder in the bunker supplier however with a stake over over 13%.
Georgiopoulos had served as chairman since the company’s IPO in 2006.
Yiannis Papanicolaou has been appointed as interim chairman. He has been on the Aegean board for the past 11 years. Meanwhile, Jean Jose Metey has been named as interim president of Aegean as John Tavlarios also stepped down earlier this month.
The shareholder revolt came on the back of an especially poor set of results in the most recent quarter.