Constantine Logothetis is stepping down as vice chairman of the Libra Group, the umbrella entity that includes shipping outfit Lomar, to focus on investing through a new private family office he set up.
Logothetis, who co-founded Libra in 2003, will remain at the group as a non-executive board member and shareholder.
His future energies, however, will focus on Alithea Capital, a new structure he has set up with a mind to "exploring opportunities across many different sectors of business life", he said in a post on his personal LinkedIn page on Sunday.
Named after the Greek word for 'truth', Alithea Capital "is founded on the premise that honesty and truth are our competitive advantage and we are committed to and looking forward to deploying this with honour and humility," Logothetis said.
"It is with great excitement and enthusiasm that I embark on this new phase," he added.
Making a killing
The Libra Group remains under the leadership of Constantine's brother George, who serves as chairman and chief executive officer. Nicholas Logothetis, another sibling, is an executive board member.
Constantine Logothetis began his career at Lomar in 2000. Three years later, he played an instrumental role in the establishment of the Libra Group, which saw his family's interests expand outside shipping to cover areas such as hotels, real estate and renewable energy.
Constantine's social activities include roles at the Leadership Council of Concordia, a non-profit organization sponsored by Libra, which is "dedicated to actively fostering, elevating, and sustaining cross-sector partnerships for social impact".
Lomar has made a killing in the secondhand market for container ships in recent months. Taking advantage of an unprecedented boom in the market, the company sold about 20 such ships in the secondhand market since May and is estimated to have raised more than $750m in the process.
