Garrick James Stanley, president of shipping and chartering for Singapore-listed Otto Marine, will become CEO of the Go Marine group as of November 1.
“This move is to allow him to better focus on Go Marine Group’s performance,” Otto said in a filing today. Go Marine is 90% owned by the company.
In April this year, Stanley (pictured) was replaced as Otto’s CEO by Michael See Kian Heng. Stanley was seemingly demoted to his role as president of shipping, which he had held prior to being made CEO in August 2013.
Go Marine describes itself as “Australia’s only integrated marine oil and gas logistics provider” and operates a fleet of 11 anchor handling tug supply (AHTS) vessels, three platform support vessels (PSVs), plus a tug, a chase boat and a multi-ROV and support vessel.
In June, Otto Marine laid off 30 staff, equivalent to 30% of its workforce, while the majority of those remaining have accepted an average pay cut of 15%.