The new CEO will implement the company's ambitious 5-year plan for global growth in the crude oil and chemical transport markets
Dubai, 12 April 2011: Gulf Navigation Holding PJSC (DFM: GULFNAV), one of the leading Maritime and Shipping companies in the region is pleased to announce the appointment of Mr. Atle Sebjornsen as Chief Executive Officer effective May 01, 2011. He replaces Mr. Per Wistoft whose contract is ended.
Mr. Atle Sebjornsen is a Norwegian national and holder of a Master of Science degree from the Norwegian School of Economics and Business Administration. He spent close to 20 years in various and senior management positions with Stolt-Nielsen Ltd., the largest chemical transporter in the world. Mr. Sebjornsen has a broad shipping experience in Europe and the Far East, combined with an in-depth knowledge and understanding of the Middle East where he spent the last 10 years as Managing Director of Stolt Nielsen operations.
Mr. Atle Sebjornsen is expected to successfully implement Gulf Navigation's ambitious 5-year plan for global growth in the crude oil and chemical transport markets, built on the foundations of a strong home base in the Arabian Gulf.
Gulf Navigation's 5-year plan (2011-2015) calls for providing additional shareholder value through additional listings of company subsidiaries in the international financial markets and expansion of the VLCC fleet (Very Large Crude Carriers) to 9 ships, chemical carriers to 12, and entry into the Aframax and marine offshore markets.
Stolt-Nielsen is a public stock company listed in Norway and joint venture partner of Gulf Navigation Holdings in Gulf Stolt Tankers (GST), which owns 4 parcel chemical carriers, and Gulf Stolt Ship Management (GSSM) who technically manages ships from both partners.
The Board of Gulf Navigation Holdings would like to welcome Mr. Sebjornsen and wish him success in his new post. The Board would also like to thank Mr. Per Wistoft for his contributions to the Company and wishes him the best in his future endeavors.
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About Gulf Navigation Holding PJSC:
Gulf Navigation Holding PJSC and its group companies own and operate crude, PROBOS and chemical tankers. It is an ISO 9001:2000 certified, Dubai-based and United Arab Emirates Holding Entity with operations worldwide. It leads the shipping and marine services industry in the region. It has 11 specialized subsidiaries and owns 15 tankers including new buildings and charters VLCC, Suezmax, Chemical and Product Tankers in addition to 4 crew boats. A total carrying capacity of approximately 1.3 million dwt. It is also the sole agency for a number of global marine manufacturers and the only maritime and shipping company listed on the Dubai Financial Market
For more information
Mayssam Hamadeh
Tel: +971-4-4270104
Mob: +971-50-1525599
Mayssam@gulfnav.com
www.gulfnav.com
© Press Release 2011
