Bourbon chief operating officer Gael Bodenes has resigned after the restructuring French company's banks took over, but will take on a new role in the group.
The offshore support vessel owner said Bodenes quit on 31 December, but will become chairman of subsidiary Bourbon Maritime.
The move follows the sale last month by a Marseilles court of the group's assets to Societe Phoceenne de Participations (SPP), the company representing its lenders.
Former owner Jacques de Chateauvieux will continue to be responsible for the company's general management, Bourbon said.
The deal with the banks means the Bourbon Corporation structure can be liquidated in 2020, the company told TradeWinds.
Bodenes' resignation should not be seen as a departure from the company, it added.
His role as chairman of Bourbon Maritime will see him retain his other functions within the group.
He will also become chairman of the management board of the new group, under the governance of a supervisory board composed of members representing the new shareholders.
SPP is a vehicle for some of France’s biggest banks.
It is made up of BNP Paribas, Credit Lyonnais, Natixis, Societe Generale, Credit Mutuel Equity SCR, as well as two regional offshoots of Credit Agricole, another big French lender.
As TradeWinds reported last month, SPP is acquiring 100% of the Bourbon group, converting €1.4bn ($1.55bn) of debt into equity and another €300m into bonds issued by SPP.
The French banks' plan also includes €150m in new bank financing, of which €30m can be released to meet immediate liquidity needs.
French logistics group Peschaud and US offshore vessel owner Tidewater were also expected to submit offers but ultimately failed to produce them in court.
Bodenes, a former CEO who remains listed on the Bourbon website in that role, began his career with the French Navy as an engineer in the newbuilding design department.
In 1998, he joined shipbroker BRS as a senior offshore shipbroker, before moving to Bourbon in 2002.
He became CEO of Bourbon in 2017, with de Chateauvieux as chairman. Then in 2019, he was appointed CEO of Bourbon Corp’s board, after the company decided to reunite the functions of chairman and CEO.
