Singapore: Offshore operator and shipbuilder Otto Marine has said today that the group has appointed Michael See Kian Heng to the role of ceo.
See replaces Garrick Stanley, who has been in the role of ceo since August 2013 and will move to the role of president shipping and chartering, similar to the position he was previously promoted from.
Stanley will now report to See, who was promoted from the role of cfo to group executive director in February 2014 in a role that was to support Stanley. He will be responsible for overall performance of Otto’s shipping and chartering, and accountable for its profitability, growth and sustainability.
See, who has been with Otto for eight years, commented: “I would like to extend my appreciation to the board of directors for their recognition and continual support of me. The volatility and declining oil prices present a challenging market. With the team we have, I am confident of achieving our goals in spite of the challenges posed by the market. We are positive that Mr. Stanley’s extensive experience will be an asset to our shipping and chartering segment.”
“Are the wheels about to fall off?” an industry observer who spoke to Splash asked, commenting the change is “obviously a high-end tussle going on” in the company.