Ray, the managing director of advisory company Greylock Partners, was formerly OSG’s chief restructuring officer during its Chapter 11 bankruptcy proceedings.
He also served as chairman from August to December 2014, and "provided significant transitional assistance and support to the company during the period immediately after the emergence," OSG said.
He will be replaced by the owner's new CEO Ian Blackley.
OSG chairman Doug Wheat said: “John Ray, together with his team at Greylock Partners, worked tremendously hard to successfully guide OSG through the bankruptcy process while simultaneously preparing the company for the next stage of its development.
"John’s
