It is no surprise to see Maria Angelicoussis beginning to play a weighty role in the company with which she shares a name.
Maran, established in 1992 as her family’s oil carrier outfit, is an acronym of her name and that of her father John’s mother.
It was telling of the dominant role that John Angelicoussis intended for his daughter to play eventually that in 2018 he turned Maran into the single brand name used across the company’s separate arms for tankers, gas carriers and dry bulkers.
To drive the point home, he formally introduced Maria as an important player on his side. And in line with the Angelicoussis Shipping Group (ASG)’s status as one of the world’s top private shipping players, he picked the foremost global stage for the rich and powerful — the World Economic Forum at Davos in 2018 — to do so.
A rare media release by ASG in July this year shows Maria as an equal partner at her father’s side in jointly bidding farewell to Stavros Hatzigrigoris — a fiercely loyal technical manager who stepped down from his post as managing director of Maran Gas Maritime after 39 years at the group.
This changing of the guard was complemented by the equally unexpected departure of John Platsidakis, managing director at Maran Dry Management, formerly known as Anangel Shipping.
The female component in the group is also increasing. Following Hatzigrigoris’ departure, Despina Moustaka was named Maran Gas’ general manager. She had previously been director for vetting as well as for health, safety, quality and environment. And last year the company got its first female captain, 34-year-old Iro Gidakou.
My father says I probably enjoy the detail a little too much
Maria Angelicoussis
But it wasn’t a foregone conclusion that Maria Angelicoussis would eventually earn her spurs at the company. She gave up a medical career to enter her father’s business in September 2008, just after the collapse of Lehman Brothers.
An unusually outspoken and elaborate limited-edition biographical note circulated among Davos delegates remains the only document to shed light on the priorities and thinking of the media-shy 38-year-old.
Her debut in the company was meant to dispel any concerns about its future.
“Before I came on the scene, maybe there was a natural concern that there was no succession,” she wrote in her Davos note.
The document also revealed that her father had looked a few years ago at a potential stock market listing — at least for the group’s considerable fleet of LNG carriers. A flotation was considered as a succession-planning option.
However, with Maria steadily expanding her footprint in the company, succession has been assured and the sale of a stake is off the table.
“A public listing is no longer on the radar,” she said in the note. “I am here to stay.”
Running a diversified shipping group involves “a steep learning curve”, she admitted. “My father says that I probably enjoy the detail a little too much.”
Sticking to what she knows and not allowing herself to be spread too thinly are among the words of advice her father has been passing on to her.
Maria mentioned that she was also “eyeing” the offshore sector, while being careful to hedge her bets. Diversification into new sectors would “not be rushed”.
These are opportunities to be entered “at the right time and with the right partner”, she said.
The succession is underway.
