Splash247: Stainless Tankers reshuffles top management

Published by Splash247

Oslo-listed Stainless Tankers is reshaping its leadership, with a change at both board and executive level as the Tufton-backed owner prepares for its next phase.

Chairman Ted Kalborg will step down from the board, with the company proposing that current chief executive Andrew Hampson takes over the role, subject to shareholder approval at the upcoming AGM.

At the same time, Hampson will vacate the CEO position, with Nicolas Tirogalas set to step in from May 20. Tirogalas currently serves as president and chief investment officer at Tufton Investment Management, the UK-based fund manager backing the company.

The changes effectively see a handover from Kalborg to Hampson at board level, while bringing Tufton closer to day-to-day operations through Tirogalas’ appointment as chief executive.

Kalborg said it had been a privilege to chair the company and expressed confidence in the incoming leadership, while Hampson noted he looked forward to continuing with the business in a board capacity.

Stainless Tankers operates a fleet of six stainless steel chemical tankers of around 20,000 dwt each. The vessels are commercially managed within the Womar pool. Financially, the company reported a marginal net loss of $0.06m on revenue of $8m in its latest quarter, compared with a $1m loss on $7.3m revenue in the previous period.