George Logothetis has moved up to become executive chairman of Libra Group and has named Manos Kouligkas as his successor in the role of chief executive.

Kouligkas, who has been chief finance officer of group company Lomar Shipping since 2012, will start in his new position on 3 October and will be based at Libra’s New York headquarters.

Logothetis said the move was a “pivotal moment” for Libra, which grew out of Lomar in the early 2000s and today has a presence in maritime, aviation, renewable energy, real estate and hospitality, among other investments.