Golden Ocean Group chief commercial officer Thomas Semino has stepped down from his role, the Bermuda-based bulker owner announced on Friday.
Semino, who is based in Golden Ocean's office in Singapore, will make himself available in the near term to help the New York-listed company with a smooth transition of responsibilities.
"The company and Mr Thomas Semino, chief commercial officer of Golden Ocean Management, have reached an agreement pursuant to which Mr Semino will be stepping down from his current role," Golden Ocean said.
“I would like to thank Thomas for his contributions to Golden Ocean over the last four years and wish him all the best in his future endeavors," chief executive Ulrik Andersen said in a statement.
"The company has commenced the recruitment process to fill the vacancy created and will announce a replacement in the near future. In the meantime, Golden Ocean maintains an appropriately staffed commercial department to ensure our chartering capabilities are not disrupted.”
Golden Ocean did not say why Semino has resigned or where he will be headed next.
Prior to joining Golden Ocean in November 2016, Semino was head of dry freight at Vitol and managing director of Ocean Freight in Bunge.
Semino, who has a degree in maritime law from Universita degli Studi di Genova, has also worked for Cargill and Coeclerici Spa.
Andersen, who took over as chief executive for John Fredriksen-backed Golden Ocean in April when Birgitte Ringstad Vartdal stepped down, could not be reached for comment.
Ringstad Vartdal joined Golden Ocean as chief financial officer in 2010 before becoming chief executive in 2016.
Andersen was previously chief executive of sister company Avance Gas.
Golden Ocean, which trades on the Nasdaq stock market under the ticker symbol GOGL, slipped 3.4% to $3.58 by early afternoon on Friday.
