Oystein Kalleklev is stepping into the C-suite at Avance Gas.
The Oslo-listed VLGC owner said on Monday that he will be taking over as chief executive after having served as executive chairman for the past 13 months.
John Fredriksen-backed Avance said Kalleklev would remain on as an ordinary board member and stand for election to the board at the annual general meeting on 8 May in Bermuda.
“The board has the discretion to appoint the chairman of the board as it sees fit,” the company said in a stock exchange filing announcing the move.
Kalleklev has been a director at Avance since 2021 and was elected chairman in March 2022.
He has made regular appearances, on calls and at conferences, on behalf of Avance following former chief executive Kristian Sorensen’s departure last year.
He told TradeWinds last March that he had time to run both Avance and Flex LNG, another Fredriksen-linked company where he has worked since 2017 and where has been chief executive since 2018.
He said Flex LNG’s fleet is largely booked for the next several years, freeing him up to focus on Avance.
Kalleklev had formerly served as chief financial officer at Knutsen NYK Offshore Tankers and was chairman of KNOT Offshore Partners, the shuttle tanker owner’s general partner, from 2015 until 2017.
With Kalleklev at the helm, the rest of Avance’s management team consists of chief financial officer Randi Navdal Bekkelund and chief commercial officer Marius Foss.
