Ardmore founder Anthony Gurnee to retire

Ardmore Shipping Corp founder and chief executive Anthony Gurnee has announced he will retire from his executive and board positions later this year, according to the company. 

Ardmore’s board of directors said it has appointed current executive and chief commercial officer Gernot Ruppelt as the company’s new chief executive, and expanded current chief financial officer Bart Kelleher’s position to take on the additional role of company president.

The leadership change will happen 16 September 2024 at Ardmore’s quarterly board meeting.

"It has been a privilege to work with so many wonderful people in building Ardmore, starting in 2010 with the acquisition of our first ship from our farm cottage in Ireland with my wife, Marianne, and with the support of Regg Jones and Greenbriar Equity, to the formation of an amazing team and culture with our chief operating officer Mark Cameron, to our IPO in 2013 and subsequent capital raises, and onward through all of the challenges and extraordinary market developments that we have experienced while bringing the company to its position today. I want to thank all of you who have joined us on this adventure and who made this possible," Mr Gurnee said.

“I must admit, it is not an easy decision to leave Ardmore at this point with such an extended positive market outlook. But, given our independent public company status, and indeed just good governance practice, it is absolutely the right thing for me to make a full departure and let the board and new leadership team forge their own pathway to continued success in this next chapter for Ardmore. I have the utmost confidence in Gernot and Bart and the talent they have around them, and I look forward to seeing the company go from strength to strength in what looks to be a bold new era for both Ardmore and for the shipping industry as a whole.”

Mr Ruppelt and Mr Kelleher will join the company board as they take on their newly appointed roles, and will continue to perform their current respective roles until replacements are found.

"On behalf of the entire board, I offer my sincere appreciation to Tony for what he has accomplished at the helm of Ardmore Shipping over the past 14 years. He is passing on the leadership baton at a time when Ardmore is more profitable, valuable, and better positioned than any time in its history, which speaks to both his character and deep commitment to making Ardmore a best-in-class organisation," Ardmore Shipping board chair Curtis McWilliams said.

"This transition represents the culmination of leadership succession planning that has been long-established and extensively discussed at the board and management levels. Following his retirement from the company, current chief executive Anthony Gurnee will remain available to Ardmore as an advisor during the transition period," a statement from Ardmore said.