Frontline Ltd has announced that Frontline Management AS chief executive officer, Robert Hvide Macleod, is stepping down from his position
Following Mr Macleod’s resignation, the board of directors has appointed Frontline commercial director Lars H Barstad, to take the role as interim chief executive officer of Frontline Management AS.
In a statement, the board gave its full support to Mr Barstad, promoting his solid background within the industry and his profound understanding of Frontline.
There will be a transition period with Mr Macleod being available to the company until 30 April 2021.
Chairman of Frontline John Fredriksen said, “I would like to thank Robert for his contribution to Frontline. He has led the company through a period of significant fleet growth and renewal. I wish Robert continued success in his future endeavours.”
“I have thoroughly enjoyed the last six years at Frontline, working with a great team through often volatile market conditions,” said Mr Macleod. “The organisation is best-in-class, and Frontline’s scale and presence in the tanker industry is unrivalled. I am grateful to the board of directors for the opportunity to lead the company over the last six years and would like to express my sincere gratitude to my friends and colleagues who have contributed to Frontline’s success during my tenure.”
Mr Barstad said, “I am grateful that the board has given me the trust to take the role as interim CEO of Frontline after having served with the company for five years in various positions. It is exciting times ahead in the tanker market, in which I will do my utmost to make sure that Frontline continues building shareholders value.”
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