Euronav has named CFO Hugo de Stoop as Paddy Rodgers' replacement as CEO.
The tanker owner said the decision had been taken following a professional search and assessment process.
"It is anticipated that his new role will commence following a brief handover period which is expected to take place in the course of the second quarter of this year," the New York and Brussels-liste tanker owner added.
The company is now looking for a new finance chief.
"It is an honour and a privilege to be appointed as CEO," De Stoop said.
"I would like to take this opportunity to thank Paddy; it has been a real pleasure to work together in order to create the dynamic and robust tanker platform that Euronav is today.
"I look forward to continue creating value for all our stakeholders in an exciting environment full of opportunities and challenges."
Chairman Carl Steen added: "The board is very pleased to confirm the appointment of Hugo.
"In his time at the company he has consistently added significant value well beyond the financing of the business, often in challenging circumstances and he has also given strong strategic direction within the executive management team.
"His appointment provides continuity with our strategy and we look forward to the next chapter at Euronav under his stewardship."
Successor recommended
Rodgers, one of shipping’s most high profile and eloquent figures, said in February he was stepping down, after becoming CEO in 2000.
He told TradeWinds at the time that de Stoop would be potentially a very strong internal candidate since the company “might struggle to find someone better”.
Rodgers, who has been at the forefront of consolidation moves in the last five years, said he and the Euronav board had been discussion about his succession for some time.
