Patrick (Paddy) Rodgers, the Chief Executive Officer (CEO) of Belgium's tanker shipping company Euronav, has decided to step down from his role during 2019 after 18 years of service.
However, he will remain in his position until a successor is appointed, said a press note from the tanker owner.
Paddy Rodgers, CEO of Euronav said: “It has been a real honour and privilege to lead Euronav as CEO. The company has progressed from a family operation with 17 vessels to the largest crude tanker company in the world with 73 vessels, listed on both Euronext and NYSE."
"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. I would like to thank all of the staff at Euronav for their dedication, unwavering support and professionalism in my time at the company,” he added.
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. ”
He joined Euronav as a member of the Executive Committee in 1995 and was appointed Chief Financial Officer in 1998. Since 2011, he has served as Director and Chairman of the International Tanker Owners Pollution Federation Fund (ITOPF). Paddy was elected to the Executive Committee of Intertanko in May 2017.
From 1990 to 1995 Paddy Rodgers worked at CMB Group as in-house Lawyer and subsequently as Shipping Executive moving to Euronav when it became a subsidiary for tanker investments of the CMB Group.