Photo credit: Euronav (image Hugo De Stoop / CEO)

Hugo De Stoop steps down from his position as chief executive officer at Belgian-based tanker owner Euronav with immediate effect.

Euronav said the departure is the result of a mutual agreement and the majority of the supervisory board supported this decision.

In order to organise a smooth leadership transition, Mr. Hugo De Stoop will be available to the company as a senior advisor until the appointment of a permanent successor.

Euronav´s CFO Lieve Logghe has agreed to take over as interim CEO to oversee the continuity of Euronav operations. Lieve, who has driven substantial improvement across the financial structure of Euronav since joining the group in 2020, as the company declares, will also continue in her role as CFO.

Hugo De Stoop have spent almost two decades helping the company´s development into a world-class leading tanker company, said the statement, adding that the majority of the supervisory board supported this decision, but did not gave any further details.

Hugo De Stoop said: “I am grateful to have spent close to 20 years helping to build a great company and supporting talented people in doing so. 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.”