His appointment was rubber stamped at the US-listedtanker operator’s annual general meeting (AGM) in Athens on Tuesday.

He assumes the role from John Stavropoulos who used TEN’slast conference call to announce he was stepping down.

The former banker has been on TEN’s board for 20 years.

Arapoglou, who was already a TEN board member, had earlierbeen nominated to replace Stavropoulos.

Last month TEN disclosed its highest quarterly profit infour years, booking net income of $14.6m