Michael Hagn, Canfornav's chief executive and president, has died at 74.
The Montreal bulker owner announced that Knud Jensen, its executive vice president, will take over the role as top executive.
Hagn became chief executive of what was then Canadian Forest Navigation in 1987.
“He achieved his dream to transition the company from a ship operator to a shipowner and was the force behind the company’s newbuilding programme,” said Canfornav in a statement provided to TradeWinds.
“His strong leadership and fighting spirit will continue to guide us as we enter a new era without him.”
Hagn died 10 October.
In addition announcing the promotion of Jensen, Canfornav said chief financial officer Joerg Plate will also take on the role of chief operating officer. Christian Hagn, who has worked in the company’s chartering department, will be promoted to senior vice president.
Rene van den Ende will remain a director.
Canfornav, part of Canadian Forest Navigation Group, controls a fleet of 40 bulkers ranging in size from 27,000 to 64,000 dwt.
