The South American shipowner said Damian Scokin will take the top job from November, while chairman Horacio Reyser fills in on an interim basis.
Felipe Menendez and Ricardo Menendez will step down from their respective CEO and executive vice president positions, but remain with Ultrapetrol as directors.
In July, the shipowner said SIPSA, a holding company controlled by the Menendez family, had agreed to sell 25.32m
