Western Bulk has now lost managers of its three major business divisions, following the departure of the head of its Asian unit as part of a major corporate shake-up.
TradeWinds has learned that Vivek Kumar was let go on Friday from his position as managing director of the bulker operator's Singapore office and head of Western Bulk's Indian Ocean business unit.
Until now, he has been part of Western Bulk's executive management team, on which he represented the Singapore office's commercial department.
His departure follows the resignations of Lars Christian Svensen and Jan Christian Tungland, who had headed up Western Bulk's two other major business divisions, as TradeWinds reported in early May.
Chief executive Hans Aasnaes told TradeWinds that Kumar's departure is because Western Bulk is splitting up its business units to give the company a flatter structure.
“We are trying to build a new organisation — a much more open, much more inclusive organisation," he said on Friday.
Splitting up Western Bulk's business divisions into smaller units should enable other employees to become more upwardly mobile within the organisation, he said.
“This will give better opportunities to more people," he said. "You have a lot of clever, good people here who will start getting experience and opportunities to grow.
"I think we can benefit a lot from working as one company instead of different units, with better cooperation across the whole company."
Kumar has worked for the organisation in various roles since 2007 and has been there to help pick up the pieces during the trials and tribulations of the past 13 years.
He was involved in helping restructure Western Bulk Chartering, following the 2016 bankruptcy of its predecessor, Bulk Invest, which was previously named Western Bulk.
TradeWinds understands that Kumar has also helped manage the fallout of Western Bulk's failed bet in Chile, which lost the company millions, and assisted the outfit's Oslo office following the departure of Svensen, Tungland and five other employees this month.
A popular figure in Singapore's dry cargo shipping community, news of Kumar's abrupt departure has left people in the market scratching their heads.
TradeWinds understands that former Western Bulk chief executive Jens Ismar thought of Kumar as one of the "four pillars" of the company.
The Indian Ocean business unit that Kumar headed up focuses on parcelling operations within Asia for bulk and break-bulk commodities.
It also comprises a portfolio of handysize bulkers that operate from Australia.
Kumar declined to comment when approached by TradeWinds.
This article has been updated to include comments from Hans Aasnaes received after publication.
