Shipowner John Fredriksen has initiated another round of musical chars at his listed shipping companies as rejigs take place at Avance Gas and Golden Ocean.
VLGC operator Avance Gas' interim chief executive Peder Simonsen, who is also the chief financial officer, will step down from both roles to join bulker owner Golden Ocean as its CFO.
Simonsen will be retained as an advisor to Avance for a period to secure continuity, the Oslo-listed company said.
He took over in April from former CEO Ulrik Andersen, who left to become the boss of Golden Ocean after nine months in the top job.
Avance Gas has appointed Flex LNG chief commercial officer (CCO) Ben Martin to hold the same role at both Avance and Flex simultaneously.
Martin was previously head of chartering for LNG and LPG at Swiss trader Trafigura.
Promotion for finance manager
Randi Navdal Bekkelund is taking over as CFO at Avance.
She has served as finance manager there since 2018 and spent eight years at EY as an auditor for shipping and offshore clients before that.
Avance said the management team will consist of the CCO and CFO, and there will be no CEO.
The company also said that Christian Fallesen has resigned as a director to take up a new role in the LPG market, creating a conflict of interest with his directorship in the company. It did not give further details.
The board member only joined in February.
The former Maersk Group man has been a general partner in New Model Venture Capital, a London based Investment fund, since 2018, but spent 10 years at LPG carrier owner Petredec previously.
Avance Gas chairman Marius Hermansen added: "I would like to thank Peder for his significant contribution during his seven years in the company and that he will be retained as an advisor to the company in the near term.
"We are very excited that Ben has agreed to step into the role of CCO. With his extensive commercial experience from LPG trading and shipping, he will make significant contribution to the company."
Hermansen added: "We are also pleased that Randi will step up as CFO, with her in-depth understanding of the Avance operations and her financial experience. Following the resignation of Mr Fallesen, the board has commenced to source his replacement on the board."
Heiberg leaves after 15 years
Golden Ocean said on Monday that CFO Per Heiberg had handed in his notice.
He has been the finance boss since April 2016, and has worked for the bulker company since 2005.
His replacement Simonsen joined Avance Gas in 2014, and was first vice president at Nordea Bank Norge before that.
Golden Ocean CEO Andersen said: "Per has made a huge contribution to the growth and success of Golden Ocean, and we wish him the very best in his future.
"Per is departing the company on the best of terms and will remain with the company until such time as a smooth transition of his responsibilities has been completed."
The boss said Sinonsen is a proven CFO with a strong track record of delivery results and creating value.
"I have had the pleasure to work for Golden Ocean and contribute to the company's growth over the last 15 years and through most of its history," Heiberg added:
'Fantastic journey'
"That has been a fantastic journey, and I will take with me many fond memories of our collective accomplishments. I am pleased to be departing the company at time when it is solid financially and well positioned for the future."
Simonsen said that he hopes to help Golden Ocean build on its track record of success.
His entry comes at a time when "the dry bulk market has turned the corner and should benefit from recovering demand and a swift slowdown in fleet growth", he said.
He added that Golden Ocean has a "well-managed balance sheet, which we expect to enhance further in the coming year".
Andersen's recruitment in April allowed Golden Ocean interim chief executive and chairman Ola Lorentzon to step back from running the company.
Lorentzon took over temporarily in November 2019 after Birgitte Ringstad Vartdal quit as CEO.
Andersen is another former Petredec and AP Moller-Maersk man.
Tycoon Fredriksen has also been reorganising his private Seatankers shipowning company, with two new hires aimed at broadening its investments beyond cargo ships and oil and gas.
