Francois Cadiou is stepping down as board chairman of BRS Group, it was announced on Thursday.
The former CEO will continue with the shop as managing director of BRS Paris, and as a newbuilding broker, Cadiou told TradeWinds.
“BRS Group has bylaws — which I contributed to establishing — that provide that any board member, including naturally the chairman of the board, has to step down at 65.”
“I have been a board member for 18 years and CEO and president for seven years, a long time to do a few things for the group”, he added.
He will be succeeded as chairman of the BRS Group holding company by chief executive Gilbert Walter, who was elected by the board, the group said in an announcement on Thursday.
“Gilbert is a gifted person who demonstrated all along his career a great amount of good judgement, leadership, dedication and care. He will take BRS higher and further,” Cadiou said in the statement.
“To run a company spread in 21 different countries in a highly competitive market is a great responsibility and not a long quiet river, but there is a lot of happiness in the accomplishment.”
Cadiou, a newbuilding and sale-and-purchase specialist, was BRS’ vice president of assets before he took over as CEO in 2017.
Walter will continue as CEO of BRS Shipbrokers and will remain based at the group’s Geneva office, which he opened in 2007.
He paid tribute to his predecessor, who he said set the “best examples of combining hard-working, excellence, integrity, humanity and generosity”.
“During Francois’ chairmanship, the group made its absolute best results ever, thanks to our unified forces,” Walter said.
“I will strive to continue our global expansion while maintaining our core values and keeping BRS as one of the best places to work, combining the personal and rigorous broker’s daily work with the digital transition that our shipping world is now encountering.”
Walter took over as CEO of BRS Shipbrokers in October 2022, replacing Cadiou.
Following the change, the BRS Group board consists of Alex Hamilton, Dominique Courne, Fotis Poulides, Jacques Faurisson, Jacques Goudchaux, Kevin Xing, Philippe Degremont, Thierry Charvet and Thomas Rolin.
The group, which is more than 150 years old, is headquartered in Luxembourg but works mainly out of Paris.
This story has been updated to reflect that Cadiou will continue working for BRS after stepping down as group chairman
