One of the most famous names in shipping is to step down. Paddy Rodgers will relinquish his role as CEO at tanker giant Euronav this year, the Belgian company revealed in an update this morning. Rodgers has been with Euronav for the past 18 years.
A recruitment process for a new CEO is underway with Rodgers remaining in his position until a successor is appointed.
With Rodgers at the helm he grew the company from a family operation with 17 vessels to become the largest crude tanker shipping line in the world with 73 ships and a dual listing.
“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,” Rodgers said today.
Carl Steen, chairman of Euronav, said: “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.”
