Diamond S Shipping has found a new chief financial officer (CFO) to lead its merger with Capital Product Partners.
The US tanker owner has brought in Kevin Kilcullen from Oslo-listed Team Tankers International, where he has been finance chief for three years.
Before that he was CFO at Principal Maritime, a private equity-backed owner of crude and chemical tankers.
TradeWinds reported last month that the company was head-hunting a CFO ahead of the tie-up with Capital Product.
Florence Ioannou has held the post since the company was founded in 2007, and previously worked under chief executive Craig Stevenson for 18 years at former OMI Corp.
Ioannou filled a variety of financial and accounting roles at OMI, which was listed in New York, but was never CFO.
Why she was not continuing in the post-merger company was not immediately clear.
Delight for Diamond S
“We’re delighted that Kevin has agreed to join us as we begin our next chapter with the Capital Product tanker merger and listing on the New York Stock Exchange,” Stevenson said.
“Kevin has a wealth of financial, reporting and operating experience in global shipping and joins an already formidable senior management team at just the right time.”
Kilcullen said: “I’m grateful for my time at Team Tankers and wish them continued success. Diamond S has one of the world’s largest tanker fleets, a cost-efficient management platform and a sound balance sheet.
"The company is listing in the public market at a cyclically opportune time and is well positioned for future industry consolidation. Craig and the team have built a world-class vessel owner/operator from scratch and I’m thrilled to be coming aboard."
