John Fredriksen's Golden Ocean Group has appointed Ulrik Andersen as its chief executive after he led sister company Avance Gas for just nine months.
Andersen starts with immediate effect, allowing interim chief executive and chairman Ola Lorentzon to step back from running the company.
Lorentzon took over temporarily in November after Birgitte Ringstad Vartdal quit.
Andersen joined Fredriksen-backed Avance in August as chief executive.
He was previously head of shipping at LPG carrier owner Petredec. Before that, he was managing director at Neu Gas Shipping and head of the Maersk VLGC Pool.
Earning Fredriksen's trust
Andersen told TradeWinds on Tuesday morning the job change "took a little bit of time" to sort out, "but now the cat's out of the bag, so that is good".
"I'm very happy about the trust shown in me by the Fredriksen system and the main shareholder and I'm looking forward to getting on with things."
He begins the role at a time of crisis, with staff working from home due to the coronavirus pandemic.
"It's not the ideal circumstances to start in, but other companies are facing the same thing," he said.
"The company has been dealing with this for some time. I am confident we will cope."
As for his lack of experience in dry cargo, he added: "I have no background in bulkers, so I have some studying to do on that. I will have to go back to the starting board.
"Shipping is not generic, but there are some similarities across sectors. What is important is that I know the Fredriksen system and I know how to run a shipowner."
Regarding growth and consolidation plans for the company, Andersen said it was too early to give any details. "It's premature to sit here on my first day and talk about that," he added.
'Strategic insight'
Lorentzon said: "The board is delighted to have appointed Ulrik Andersen, who has demonstrated strong management skills and strategic insight in his previous job as CEO of Avance Gas.
"We are confident Ulrik will move the company forward and capitalise on the opportunities that lie ahead."
He added: "I welcome Ulrik to Golden Ocean and look forward to working with him."
Andersen said earlier in a statement: "I am excited to be joining Golden Ocean and look forward to working with the strong organisation to drive the business forward in the years to come.
"Strong foundations have already been laid and I welcome the opportunity to build on these and to explore new opportunities for growth and consolidation."
Interim boss
Avance confirmed Andersen was stepping down and said its chief financial officer Peder Simonsen will serve as interim chief executive until a permanent successor is appointed.
"The board would like to thank Mr Andersen for his significant contribution to the company," it added.
Ringstad Vartdal had been Golden Ocean chief executive since April 2016, having become chief financial officer in 2010.
Her final day was on 30 November, but she remained "available" to the company until the end of February this year.
She later joined renewables group Statkraft.
Andersen holds an MSc in international marketing and management from Copenhagen Business School and a BSc in shipping from the Institute of Chartered Shipbrokers.
When he joined Avance, he had the option to buy 750,000 shares.
They were to vest annually over the following three years.
