Edward Buttery has been named as the new chief executive of Singapore bulker owner Grindrod Shipping, the company he acquired last year.
He takes up the post at the end of March with current interim CEO Stephen Griffiths retiring from the company on that date.
Grindrod has also named Deborah Davel as its new chief financial officer effective from 1 April. Griffiths currently also holds that role.
Davel has been with Grindrod since 2004 and was most recently general manager of treasury and projects, a director of the operating subsidiary of Grindrod, and a member of the executive committee of the Company since 2020.
“It has been an honour and privilege to be a part of Grindrod Shipping over the last 13 years and lead the company through its critical sales process over the last year,” said Griffiths.
“I would like to thank my colleagues for their hard work and consistent support over the years and believe Grindrod Shipping is well positioned for the future.”
The end of March will also see the departures of Quah Ban Huat and John Herholdt as directors of the company in accordance with the terms of the previously announced following the takeover by Taylor Maritime Investments.
In conjunction with their departures, Grindrod has named Gordon French as an independent, non-executive director effective from 1 April.
French was the head of global banking and markets for Asia-Pacific at HSBC and was based in Hong Kong responsible for all global banking and market businesses in the region.
These are the latest changes to the board of Grindrod Shipping following its takeover by London-listed Taylor Maritime Investments (TMI).
Kurt Klemme, chairman of the German Shipowners’ Defence Association and Reederei Nord, was named company chairman in December 2022.
Charles Maltby, CEO of LPG carrier owner BW Epic Kosan, was also appointed to the board along with investment banker Rebecca Brosnan and former Epic Gas director and finance executive Cullen Schaar.
Buttery’s role at Grindrod will be focused on achieving strategic synergies, TMI said.
The existing Grindrod team will continue to be responsible for day-to-day operational aspects.
This will enable the execution of a clear commercial strategy across both companies and create a high degree of alignment whilst respecting the interests of all stakeholders, TMI added.
Buttery said: “My focus is on delivering synergies for the TMI and Grindrod fleet through a cohesive strategy and commercial vision. We are already starting to see the benefits that greater scale brings.”
Klemme added: “We look forward to working with Ed in his new role as CEO and believe the Company’s business is in good hands. We are confident that with his position as CEO of Grindrod and TMI he’ll be able to achieve the co-operation of both companies to optimise earnings potential.”
