Arntzen Appointed CEO of OSG

Tuesday, December 16, 2003
The Board of Directors of Overseas Shipholding Group, Inc. (OSG) today announced the appointment of Morten Arntzen as the Company's new President & Chief Executive Officer. Mr. Arntzen, who currently serves as Chief Executive Officer of American Marine Advisors, Inc., a U.S. based merchant banking firm specializing in the maritime industry, has extensive experience in the international shipping business. Mr. Arntzen, 48, will succeed OSG's long-time CEO, Morton P. Hyman, who will retire at the end of this year. "I am honored and excited to assume the leadership of OSG, one of the world's premier tanker companies," said Mr. Arntzen. "Under the leadership of Mort Hyman, the Company has modernized its fleet, streamlined its operating cost structure and strengthened its balance sheet. He and his management team have built one of the best platforms for growth in the industry. I look forward to working with the management team to exploit OSG's unique strengths to build and enhance our business." "I am pleased that OSG has been able to find such an experienced and talented individual to assume the role of CEO," said Mr. Hyman. "I am certain the Company will continue to grow and prosper under his leadership, and I wish him every success." Mr. Arntzen has been involved in the global shipping industry continuously since 1979. Prior to joining AMA in 1997, he ran the Global Transportation Group for Chase Manhattan Bank (the same position he held at Chemical Bank, prior to its merger with Chase). In connection with his appointment and in accordance with the requirements of Section 303A.08 of the New York Stock Exchange Listed Company Manual, Mr. Arntzen will receive a restricted stock grant of 50,000 shares of OSG common stock that will vest in equal annual installments over 4 years.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Great Barrier Reef Kept Off UNESCO 'Danger' List

A heritage committee of the UNESCO cultural agency stopped short of placing Australia's Great Barrier Reef on an "in danger" list, but the ruling on Friday raised

World Refugee Crisis to Worsen with Climate Change

A historic 52 million people are fleeing conflict worldwide, a trend that will intensify over the next two decades because of climate change, International Rescue

EXG Wins CII SCALE Award

Express Global Logistics Pvt Ltd (EXG) won the Supply Chain and Logistics Excellence (SCALE) Award 2015 organized by CII (Confederation of Indian Industry).

Salvage

Study Targets Improved Subsea Mattress Salvage

Subsea mattress research announced at decommissioning event   Independent multi-discipline subsea engineering and training firm Jee Ltd. has completed a contract with Decom North Sea (DNS),

6,000 Gallons of Diesel Spilt in Alaskan Gulf

Unified Command responding to cleanup aboard vessel in Seldovia, Alaska   A Unified Command consisting of representatives from the U.S. Coast Guard, U.S. Department of the Interior,

US Orders Owner to Clean Up Ruptured Pipeline

Federal order ensures continued action on Santa Barbara County oil spill   The U.S. Environmental Protection Agency and the U.S. Coast Guard issued a joint federal

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1904 sec (5 req/sec)