Ian El-Mokadem has quit as chief executive of shipmanagement giant V.Group and will be replaced by shipping veteran Graham Westgarth.
El-Mokadem took over at V.Group less than two years ago following its takeover by private equity firm Advent International and had been earmarked as the man to take the business public.
A statement said simply that Ian El-Mokadem had informed the board of his decision to leave the company, with a spokesperson for the company describing the decision as mutual and effective immediately.
John Pattullo, chairman of V.Group, said former Exova chief El-Mokadem had overseen a substantial investment programme which delivered new state-of-the-art systems in critical areas.
“He has also been instrumental in establishing a Group-wide set of values for our colleagues with safety at the core, which leaves a lasting legacy for our organisation,” the chairman added.
El-Mokadem has left V.Group just a few weeks after shipmanagement industry figure Manish Singh, who had been leading the company’s merger and acquisition activity, departed.
Former GasLog, AP Moller-Maersk and Teekay man Westgarth joined V.Group as a director last year and is a former chairman of Intertanko.
“Having gone through a period of significant investment, V.Group’s primary focus is now firmly centred on delivering sustained benefits to its customers," Pattullo added.
"We are delighted to welcome a leader with Graham’s unparalleled experience in marine operations."
El-Mokadem said leading V.Group had been a great privilege and he would remain a close friend of the company in which he would retain an interest.
El-Mokadem began his career with consultancy Accenture in 1990, before moving to UK-based energy company Centrica in 1997 — rising to managing director of its One.Tel telecoms arm.
He later moved to Compass and than Exova, the provider of testing and calibration advisory services, where he was chief executive for more than six years, before the switch to V.Group.
