GC Rieber CEO Christian Berg is resigning to focus again on his private OSV investment company Bech Offshore.
He leaves on Friday, the Norwegian offshore shipowner said.
Bech Offshore was set up in 2017 to invest in distressed OSV assets like laid-up ships or to manage ones seized by banks in the downturn.
But Bech was bought by GC Rieber last July as Berg agreed to become its CEO.
Its activities will now be sold back by Rieber.
It is not clear what assets it owns. Berg was not immediately available for comment on Friday.
The search for a new Rieber CEO has begun, but in the meantime CFO Einar Ytredal will be the acting CEO.
"The board of GC Rieber Shipping would like to thank Christian Wilhelm Berg for his contributions as CEO of GC Rieber Shipping during a difficult time in the industry," it said.
Berg was CEO of Viking Supply Ships for six years before leaving in April 2017.
He has also worked for Geco Prakla and Siem Offshore.
Berg replaced Irene Waage Basili, who left to run Rieber's joint venture with Rasmussengruppen, Shearwater GeoServices.
