Hong Kong’s Fleet Management (FLEET) has begun the search for a new managing director as co-founder Kishore Rajvanshy decided to step down from the role after three decades.
As part of the leadership transition, Angad Banga, chief operating officer of FLEET parent company, The Caravel Group, will co-lead FLEET with Rajvanshy.
Rajvanshy will continue to manage the technical, seafarer personnel, quality, health, safety and environmental departments, and Banga will oversee all other divisions.
Rajvanshy joined Hong Kong-based commodities trader Noble Group in November 1994 to establish Fleet Management before it was acquired by diversified conglomerate The Caravel Group. Today, FLEET is one of the largest independent shipmanagement companies, managing over 650 diverse types of vessels, supported by more than 27,000 seafarers in addition to around 1,100 onshore staff based in 27 offices across 13 countries.
“As I prepare to pass the baton to the next generation, I am confident that the company’s future is bright and that it will continue to set industry standards for years to come. This is a landmark strategic move to mark our 30th anniversary year, to build on our rock-solid foundations and take the company to the next level,” Rajvanshy said.
Banga, the son of the chairman and CEO of The Caravel Group, Harry Banga, will oversee the new management. He is the current chairman of the Hong Kong Shipowners Association and rotational chairman of the Asian Shipowners Association.
“I am driven to build on the robust legacy established by my father, and Dr Rajvanshy, in working with our colleagues, partners and investing in FLEET to meet our clients’ needs now and into the future,” Banga said, adding: “Our company stands at the intersection of tradition and innovation. Leading our extraordinary team is a privilege, and we stand poised to continue to lead safety standards, embrace innovation and pursue new opportunities to serve our clients and the broader industry.”
