UK shipbroking group Braemar Shipping Services has finally found a new group chief executive, as James Gundy steps up to the top job.
The London-listed company, which also has financial advisory and logistics interests, said the head of broking arm Braemar ACM will take the vacant role from 1 January.
Braemar has been looking for a new leader since July 2019, when James Kidwell retired.
In June, chief financial officer Nick Stone was promoted to group chief operating officer to help fill the gap. Stone, who joined in April 2019, retained his finance brief.
The company has been run by executive chairman Ron Series in the interim.
Gundy has been CEO of the shipbroking division since joining the company in 2014, following the merger with ACM Shipping Group.
He has been a shipbroker for 35 years, specialising in tankers and sale and purchase.
Gundy was CEO of ACM before the merger, and has driven the growth of the merged business ever since, Braemar said.
Dual role
"I am proud and excited to be appointed to lead the business and am looking forward to working with the Braemar board as well as my Braemar colleagues," he said.
"I am confident that as a global team we are well positioned to continue the success we have worked so hard to deliver in recent years."
The executive will continue to lead the shipbroking unit and remain "fully operational in that role", the company added, in a move that mirrors the dual role of Andi Case at rival Clarksons.
Braemar said: "This appointment will facilitate the continued development of the group's strategic direction with shipbroking at the centre of the group's activities."
Series, who will revert to a non-executive chairman role in January, said Gundy has done a "superb job" at integrating the ACM with Braemar since the 2014 merger.
"We all look forward to working closely with him as we continue to grow the Braemar business," he said.
