John Fredriksen is one among 4 new faces on the Euronav board[Image: Reuters Alamy]
There are new faces on the board of tanker big Euronav following in the present day’s particular shareholders’ assembly, together with John Fredriksen and Saverys household patriarch Marc Saverys.
That assembly was initially requested again on January 16 by CMB and the Saverys household and comes after the collapse of the proposed tanker mega merger of Euronav and John Frediksen’s Frontline. Much has been happening since then, together with John Fredriksen-associated Famatown build up its stake within the firm. You can observe the timeline in a succession of press releases put out by Euronav as they occurred.
Shareholders voted to keep up impartial administrators Grace Reksten Skaugen, Anita Odedra, Carl Trowell. They accepted a decision proposed by CMB to terminate the mandates of the opposite impartial Board members
In line with the supervisory board’s suggestions, shareholders additionally accepted the appointments of 4 new administrators: John Frederiksen and Cato H. Stonex, representing Famatown; and Marc Saverys and Patrick De Brabandere, representing CMB.
The ensuing composition of the brand new supervisory board is as follows:
- Grace Reksten Skaugen (impartial)
- Anita Odedra (impartial)
- Carl Trowell (impartial)
- John Frederiksen (non-independent)
- Cato H. Stonex (non-independent)
- Marc Saverys (non-independent)
- Patrick De Brabandere (non-independent)
Grace Reksten Skaugen, chairwoman of the Euronav Supervisory Board, stated: “I would like to thank Anne-Hélène Monsellato and Steven Smith for their valuable contributions to the Euronav supervisory board and to our company’s success. I welcome the new directors and look forward to working with the enlarged board to pursue our strategy of profitable growth and value-creation in the interest of all stakeholders.”
How properly they may all play collectively stays to be seen.
