Hugo De Stoop: “With a new Supervisory Board and strong representation from the two core shareholders, now is an appropriate time for Euronav to open a new chapter in its development.”
Just in the future forward of the corporate’s May 17 annual meeting, the Supervisory Board of Euronav NV (NYSE: EURN) has introduced the departure of its CEO Hugo De Stoop with “immediate effect by mutual agreement,” including that “the majority of the Supervisory Board supported this decision.”
The board mentioned it wished to thank De Stoop for his contribution to Euronav over the previous twenty years and its growth right into a world-class main tanker firm.”
De Stoop might be accessible to the corporate as a senior advisor till the appointment of a everlasting successor. Meantime, CFO Lieve Logghe is to take over as interim CEO to supervise the continuity of Euronav operations. Logghe, who, the board notes, “has driven substantial improvement across the financial structure of Euronav since joining the group in 2020,” may also proceed in her function as CFO.
“I am grateful to have spent close to 20 years helping to build a great company and supporting talented people in doing so,” mentioned De Stoop. “With a new Supervisory Board and strong representation from the two core shareholders, now is an appropriate time for Euronav to open a new chapter in its development.”
As those that have adopted the saga will know, that new board is in place following a ding dong battle for management of the corporate between the Saverys household and pursuits related to John Fredriksen. That battle was sparked by a proposed tanker mega merger between Euronav and Fredriksen’s Frontline. First introduced in April of final 12 months, the deal subsequently collapsed in January of this 12 months.
