Former boss Stefano Rosina has parted ways with Italian bulker and tanker company Premuda.
The 58-year-old is leaving to start a new advisory company, Rosina and Partners, which will focus on shipping investment opportunities, the company said.
His departure brings the curtain down on a career spanning nearly 30 years during which Rosina has mostly been at the helm of the Genoa-based company.
It follows unconfirmed reports that Marco Fiori - who is to leave d’Amico International Shipping where he is chief executive at the end of the year - will join the management of Premuda in 2019.
Premuda has been associated with the Rosina family since 1990 when it led a takeover of the then stock-listed company.
But the financial crisis saw the company struggle with debts of an estimated $400m which resulted in it being taken over by private equity platform Pillarstone in March 2017.
TradeWinds reported in September that Pillarstone was to start the process of rebuilding Premuda by parachuting in partner Jens Martin Jensen who took on the role of chief executive for Premuda at the end of June.
Stefano’s father Alcide Rosina will remain as deputy chairman, working with Pillarstone chief executive John Davison.
“I would like to place on record my gratitude for the work that Stefano has done over the last few years to stabilise the business after the financial distress suffered by the Italian shipping sector,” Davison says.
He had helped “to get Premuda to a position where we can again start to focus the business on growth and a myriad of market opportunities.”
Premuda currently has 13 vessels — three tankers and 10 bulkers.
It has expressed the intention of growing its operation to between 30 and 40 ships.
