London-based shipowner Lomar Shipping has made recent recruit Dennis Psachos its new chief financial officer.
The container ship, bulker and tanker company said Psachos joined in December as deputy CFO.
He will now replace CFO Manos Kouligkas, who has been promoted to a new role within Lomar’s parent company, Libra Group, an international conglomerate that has assets in more than 50 countries.
Psachos will lead the financial team based in London and Bremen, Germany.
The new CFO is currently based in Athens, but will relocate to the London headquarters.
He has 12 years of experience in shipping and was previously the CFO of Prime Marine, a prominent shipping company based in Athens that invests in and manages oil tankers and LPG carriers.
Lomar chief executive Nicholas Georgiou said the company has been planning the transition “for a considerable time”.
He added that Psachos brings “extraordinary experience working within the shipping industry and our global markets.”
“We also look forward to continue working with Manos Kouligkas in his new role at our parent company, the Libra Group,” said the CEO.
Before his Prime Marine stint, Psachos was financial controller of OceanFreighters, a well-established Piraeus-based bulk-carrier owning and operating company.
And before that, he was an external auditor in the shipping division of Ernst & Young’s offices in Athens and Oslo.
The qualified accountant holds an MSc in shipping from the University of Piraeus and a BSc in Economics from the University of Athens.
Psachos said: “It is an honour to be appointed CFO of a revered shipping business that has such a tremendous heritage spanning five decades.”
He added: “Lomar is already a best-in-class owner-manager of a diverse fleet and I look forward to helping build on its success moving forward as an innovative industry leader.”
Last year, Lomar Shipping promoted Peter Cotopoulis as its new chartering director after veteran Simon Hollamby decided to stand down.
Cotopoulis first joined Lomar at its London headquarters as a chartering executive in 2011.
Lomar’s fleet consists mainly of feeder and panamax containerships, but there are also four panamax bulkers, a multipurpose ship and chemical tankers.