Christian Andersen is stepping down as president of John Fredriksen-backed Avance Gas, having been with the company since its inception in 2007.
The decision will be effective sometime within the next few weeks, chief financial officer Peder Simonsen told TradeWinds by phone today.
Simonsen was unable to comment on the reasons for the president's departure, adding that it was a matter between Andersen and the board.
"There is no definite timeline for when he is stepping down," he said.
Andersen declined to comment on the specifics of his exit when contacted by TradeWinds today.
"I'm going to sit down and have a think about what I want to do next," he said.
Simonsen will step in as chief executive until the board appoints a successor.
"The board would like to thank Mr Andersen for his significant contribution to the company since inception," Avance Gas said in a release today.
Under Andersen's leadership, Avance has grown from its roots as subsidiary of Stolt-Nielsen to an Oslo-listed owner of 14 VLGCs.
During his tenure at Avance, Andersen led two unsuccessful takeover bids for Dorian LPG and attempted to buy out Aurora LPG, but was beaten to it by BW LPG.
