Singapore’s BW LPG has begun the search for a new chief financial officer after incumbent Elaine Ong announced her sudden departure.
In a regulatory filing on Friday, the Oslo-listed VLGC specialist said Ong had decided to step down as CFO to pursue other interests, with effect from today.
The shipowner added that Iver Baatvik, currently head of corporate development and investor relations, will act as interim CFO.
Ong joined BW Group in November 2011 and, four years later, was named CFO of the LPG owner and operator, according to her LinkedIn profile.
Earlier in her career, she spent just over 10 years at Teekay Shipping as vice president, financial projects and systems and regional controller — Asia Pacific.
“On behalf of the board of directors and management team, I thank Elaine for her dedication and contributions over the past 12 years at BW Group and BW LPG,” BW LPG chief executive Anders Onarheim said.
“This includes the recent acquisition and integration of Vilma Oil and the expansion of the LPG Product Services team. We wish her all the best in her future endeavours.”
News of Ong’s departure comes just days after BW LPG reported its strongest quarterly performance on record with its fleet achieving its highest-ever daily time charter equivalent (TCE).
BW LPG operates a fleet of 45 VLGCs, of which 19 are owned and the rest are either operated or chartered by the company or controlled by its Indian LPG venture.
This is the second senior executive to quit BW LPG’s top ranks this year, with executive vice president of technical and operations Pontus Berg leaving the company at the end of January.
He later emerged as chief operating officer at expanding UK shipowner Purus Marine, where he is responsible for overseeing commercial and technical management of its vessels and infrastructure equipment from its office in Singapore.