Tyler Baron will take the reins at Minerva Bunkering, rising to chief executive three weeks after the former Aegean Marine Petroleum Network emerged from bankruptcy.
"Given Tyler’s history with and dedication to the company, as well as his breadth of experience in financial markets and capital allocation, he is the ideal candidate to lead Minerva Bunkering," said Magid Shenouda, global head of trading at parent Mercuria Energy Group.
Last year, Barron-led RBM Holdings led a shareholder revolt against Aegean's former leadership after it had sought to merge with founder Dimitris Melissanidis' HEC Europe. Barron was added to the board that May as an independent director.
The company was nearly liquidated that summer, partially thanks to an alleged nine-figure fraud scheme perpetrated by Melissanidis, and declared bankruptcy in November.
Through the proceedings, which the company emerged from 5 April, Barron was the public face of the company.
As part of the reogrganization, creditors received proceeds from litigation against Melissanidis and cash, while Mercuria received 100% of the equity in Minerva.
In January, Barron told TradeWinds that the Mercuria backing will allow it to fully utilize its worldwide terminal network and fleet of 41 bunkering vessels.
"Minerva will play a role in the transition of the marine fuels market, which is undergoing significant structural change, accelerated by the introduction of IMO 2020," Baron said in a statement Thursday.
"As part of Mercuria, Minerva Bunkering is one of the industry’s most credit-worthy counterparties, leveraging a global physical supply network and sales organization with the risk-management, structured finance, and trading capabilities of Mercuria."
Barron will be based in Geneva.
