Itkin (65) CFO and treasurer of OSG since 1995 and executive vice president since 2006 played a key role in the company’s growth including acquisitions such as Stelmar, Maritrans and Heidmar Lightering.

And since OSG’s Chapter 11 filing he has been involved in efforts to restructure debt and get the company back on an even keel.

Itkin has been chopped less than two monthsafter the departure of Morten Arntzen the chief executive who presided over OSG’sdecline into bankruptcy.

OSG