Belgium-based Euronav tanker owner reports the sale to CMB NV of all Euronav NV shares held by Frontline plc and Famatown Finance Limited. CMB NV now holds 49,05% of the shares.
Due to these changes both the supervisory board and management board of Euronav have changed.
Now with CMB NV now holding 49,05% of the shares, Euronav unveiled that management board members Lieve Logghe, Brian Gallagher, Alex Staring and Thierry De Grieze had their management board responsibilities terminated as of 22 November 2023.
They will however continue on an advisory basis with Euronav until the end of December 2023 to ensure a smooth transition and handover. General Counsel Sofie Lemlijn and general manager Hellas Michail Malliaros will stay with the company in their respective roles but will no longer serve as management board members.
Alexander Saverys serves on the management board as chief executive, whilst he is also the chief executive of the CMB Group.
Ludovic Saverys joins Euronav on the management board as chief financial officer. He is the chief financial officer of CMB NV and the general manager of Saverco NV.
Michael Saverys, joins the Euronav Management board as chief chartering officer. Other appointments include Maxime Van Eecke coming in as chief commercial officer and Benoit Timmermans becoming chief strategy officer.
Alexander Saverys said he was pleased that the deal with Frontline and Famatown has become effective.
“It solves the strategic and structural deadlock in Euronav and allows a new board and new management team to write a new chapter for Euronav. Our immediate focus will be to continue to run the company as the best-in-class tanker platform, whilst we will at the same time engage with the new Supervisory Board on how to execute a strategy around diversification and decarbonization.”
Marc Saverys also pointed out that after many months of uncertainty Euronav’s deadlock has been resolved. “I would like to thank all our Euronav colleagues for their patience and hard work. Having served from 2003 to 2015 as Chairman of the Board, I am proud and honoured to resume my duties. We embark on a new journey for Euronav with energy, perseverance and passion,” Saverys added.
