SFL Corp's chief executive is taking a seat on the board.

The New York-traded owner of bulkers, boxships and tankers disclosed that Ole Hjertaker took departing director Harald Thorstein's position Monday.

Hjertaker has been chief executive of the John Fredriksen-backed leasing company since 2006 and had spent the previous three years as the company's finance chief.

Thorstein had been on the board since 2011.

The company did not disclose why he resigned.