Stolt-Nielsen is shaking up the top of its chemical tanker operating arm after a long-awaited IPO was shelved.

Lucas Vos has stepped down as president of Stolt Tankers after more than four years.

Former lieutenant Maren Schroeder will become president and chief operating officer, while Bjarke Nissen will take on the chief commercial officer role, effective from 1 July.

“The appointment of Maren Schroeder and Bjarke Nissen to these key roles illustrates the impressive talent that we have on hand,” Stolt-Nielsen chief executive Udo Lange said.

“They are both leaders in our industry, and I am confident that under their leadership we will continue to maintain our strong market position.”

Former AP Moller-Maersk man Vos joined Stolt-Nielsen in October 2019, during the company’s push to spin off its tanker business.

But Lange announced that the company was abandoning the efforts last October, shortly after his appointment as chief executive, arguing that the tanker business — which runs the world’s largest fleet — is best positioned as a dividend-driver for the Oslo-listed company.

Schroeder also joined the company in 2019 amid its IPO push, first as fleet director for Stolt Tankers and then as managing director.

Prior to joining Stolt-Nielsen, she had worked at Vroon, Exmar and Euronav, and is president and chairwoman of the European International Shipowners’ Association of Portugal.

Nissen has been with Stolt Tankers since 1993 after serving as an officer in the Danish army and spending time at Maersk.

He was promoted to business director in 2009 and has been managing director since 2019.