Rodgers plans to stand down as ceo this year but will stay on at the helm of the company until a successor is found. He has spent some 18 years at the firm and has become well known for his strong views on the industry and the market, most recently for his stance against scrubbers as a way to comply with the IMO's 2020 sulphur cap.
Commenting on the decision Rodgers said:“The company has progressed from a family operation with 17 vessels to the largest crude tanker company in the world with 73 vessels, listed on both Euronext and NYSE.
“Having now completed in full the Gener8 merger I wish to pursue other opportunities and believe it is an appropriate time to hand over the baton of leadership of a strong and best-in-class large crude tanker business.”
Carl Steen, chairman of Euronav said: “We respect Paddy’s decision to step down after transforming Euronav under his stewardship. Euronav is in a strong position with sector low leverage, substantial liquidity and operational flexibility to take on the challenges from the tanker market going forward.