Departing Euronav chief executive Hugo De Stoop was not “surprised” by the board’s decision to seek a new boss to take the company forward. The Belgian tanker owner’s supervisory board announced on Tuesday that the near 20-year veteran is leaving by mutual agreement with immediate effect as the John Fredriksen and Saverys shareholding groups seek a solution for its future direction. “It was certainly not a real surprise because it is very difficult for a CEO to continue to run the company when a 25%-plus shareholder no longer has trust in the CEO,” De Stoop told TradeWinds.
Editor’s selection: De Stoop departs, Stolt spotlights corruption and Greek shipowner’s Hollywood S&P foray
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19 May 2023 12:08 GMT Updated 19 May 2023 12:08 GMT