The controlling family of Norwegian shipbuilder and designer Ulstein Group has completed its move away from the operational side of the business to focus on its future direction.
From 2 November, after almost 22 years as chief executive, Gunvor Ulstein will step down and hand over the reins to chief financial officer Cathrine Marti.
Gunvor Ulstein is the granddaughter of founder Martin Ulstein. Her brother Tore Ulstein is chairman of the board.
The siblings will now work together on "longer-term possibilities" for the group.
Ulstein Group, whose main facility is Ulstein Verft, said that the current CEO has managed the group through good and bad times.
"Stepping down as CEO does not reduce my dedication to Ulstein Group," she said.
Free to look longer-term
"Through my positions as chair of the board of Ulsmo (Ulstein Group's majority owner) and board member of several Ulstein companies, I will continue my engagement to ensure a viable future for the group."
She will now be free to work with her brother to concentrate on the "more long-term and strategic opportunities for the group and the maritime industry," she added.
The outgoing CEO said: "We have always adapted the group to the market, and we will continue to do so through continuous change and development. After having completed the transition from oil and gas and into new segments, Covid-19 put us to the test."
Gunvor Ulstein added: "Covid-19 has impacted most businesses regardless of industry. We have adapted to a new everyday life and constantly changing regulations, and we must expect to continue with this until a vaccine is in place."
Tore Ulstein said his sister is known as a skilled and vigorous CEO.
"I would like to thank her for her great commitment through many years, in Ulstein Group and also outside the company. I look forward to our further collaboration on the development of Ulstein Group."
Tore Ulstein himself stepped down from his operational positions in Ulstein on 1 September.
Marti has been CFO for the last six years.
She holds a master's degree in economics and her whole career has been spent in shipping, with earlier roles at Hoegh Autoliners and DnB Shipping & Offshore.
"Cathrine Marti will be working together with a very skilled and competent administration, and she has the expertise and the qualities needed to succeed in heading Ulstein Group into the future," said Tore Ulstein.
The yard group is currently listed as building a cable layer for Nexans and an expedition cruiseship for Lindblad, both due next year.
