Stolt Tankers has promoted Maren Schroeder to managing director of its technical management unit as it continues to pursue an initial public offering.
The Dutch chemical carrier company, which is part of Norway's Stolt-Nielsen, said the experienced executive is replacing Mark Martecchini at Stolt Tankers Shipowning (STSO).
Martecchini is retiring after more than 38 years with the group.
Schroeder, who joined Stolt Tankers as fleet director in 2019, will take over on 1 April 2022.
Stolt Tankers president Lucas Vos said Schroeder's promotion is "good news" for the company.
Vos added that Schroeder's background in shipping, combined with her inside knowledge of the company's operations, proved key in the move.
"Retaining Mark Martecchini's experience until April will help to ensure her smooth transition into the leadership team," Vos said.
A new dimension
"Maren's appointment brings a new dimension to our leadership team through her passion and commitment to leading the transformation of STSO as we pursue our ambition of a successful IPO."
Schroeder was previously head of technical at private Dutch shipowner Vroon, where she reported to the group's board of directors and was responsible for a fleet of 200 ships.
In her time with Stolt Tankers, the company said she has been instrumental in driving collaboration across the business and providing the highest-quality ships to its customers.
"She has also successfully developed strong virtual connections between ship and shore personnel despite the difficulties of operating during Covid-19," Stolt Tankers said.
Martecchini heading to New York
Martecchini has served in a variety of technical, commercial and executive roles at the group.
In July next year, he will become president of the Webb Institute, a top-ranked, private undergraduate institution that offers full-tuition scholarships and specialises in naval architecture and marine engineering, with a waterfront campus in Glen Cove, New York.
Stolt Tankers operates a fleet of more than 150 sophisticated ships.
In October, parent Stolt-Nielsen said it was still waiting for the right time to pull the trigger on an IPO for the tanker unit.
"I've said it on several occasions that I think that [a] step towards a sustainable industry in the chemical... segment is further consolidation, and that's why we are looking at doing an IPO," group chief executive Niels Stolt-Nielsen said on a conference call with analysts.
"We would like to separate our tankers at the right time."
The chief executive stressed that his firm does not have to carry out a spin-off.
"We are in a very flexible situation," he said.
He added that a Stolt Tankers IPO would happen "at the right time... so that we can pursue further consolidation opportunities".
The idea is to use the company's balance sheet to move forward with deals, as well as to make its tanker operation a standalone company.
