George Logothetis has moved up to become executive chairman of Libra Group and has named Manos Kouligkas as his successor in the role of chief executive.
Kouligkas, who has been chief finance officer of group company Lomar Shipping since 2012, will start in his new position on 3 October and will be based at Libra’s New York headquarters.
Logothetis said the move was a “pivotal moment” for Libra, which grew out of Lomar in the early 2000s and today has a presence in maritime, aviation, renewable energy, real estate and hospitality, among other investments.
“Manos is a proven leader and we are extremely proud that he joins our executive team as CEO during this transformative time,” Logothetis said in a release on Wednesday.
“Over the last two decades we have grown from a single maritime subsidiary into a global ecosystem comprised of 20 operating subsidiaries and 10 non-profit organisations that span across six continents.
“We are focused on ensuring that our agility and scale are balanced with strong corporate governance, which is critical to building an enduring model that delivers growth while driving good.”
Nicholas Logothetis, currently a member of Libra’s executive board, will become vice-chairman of the group with immediate effect.
Constantine Logothetis, brother of George and Nicholas, stepped down as Libra’s vice-chairman in December to focus on a new private family office. He remains a non-executive board member and shareholder of the group.
Libra said Kouligkas has been an “integral part” of the development and expansion of Lomar over the past 10 years.
“The Libra Group is focused on growing responsibly and operating companies that are critical to global prosperity, mobility, and sustainability,” said Kouligkas. “I look forward to further advancing the group’s global platform, implementing a governance infrastructure that positions us to leverage our scale with continued excellence.”
Before joining Lomar, Kouligkas was CFO at Odysea Carriers and also served in financial roles at Coca-Cola Hellenic Bottling Company and at accounting giant Ernst & Young.
Nicholas Logothetis said Kouligkas’ appointment “has long been in the works, and is one of many announcements that reflect the future focus of our group”.
Dennis Psachos became chief financial officer of Lomar Shipping in May this year.
Last month, Libra Group confirmed that it has acquired St. Johns Ship Building, a Jones Act-compliant shipyard that specialises in the offshore wind vessel sector.
