Miles, Webber Step Down from CP Ships

Thursday, December 29, 2005
Following the completion of the acquisition by TUI AG of CP Ships and its de-listing from the Toronto and New York stock exchanges, CEO Ray Miles will step down from his position on December 31, 2005, and CFO Ian Webber will leave CP Ships at the end of January 2006.

"Throughout his career Ray has had a tremendous influence on our industry. He transformed an underperforming single-route two-vessel shipping line into a consistently profitable top-20 international carrier. And, as the first Chairman of the World Shipping Council, he oversaw the development of the container shipping industry's highly successful cooperative relationship with the U.S. government on maritime security. Ray has, in fact, helped steer the course of liner shipping," said Michael Behrendt, Chairman of CP Ships and Hapag-Lloyd. "Ray and Ian together have also done an outstanding job of raising the profile of our industry within the investment community, demonstrating clearly how a profitable well-run liner shipping business can generate substantial shareholder returns," Mr Behrendt added. "I thank them both for their contributions to our industry. We look forward to building on their successes." Ray Miles started his shipping career in 1972 with Ocean Transport & Trading. He subsequently served as Executive Vice President of Barber Blue Sea and Managing Director of Global Equipment Management which promoted the grey-box concept of container fleet management. He joined CP Ships as CEO in 1988 when it was only Canada Maritime.

Ian Webber, a Chartered Accountant, joined CP Ships as CFO in 1996 after 17 years with PricewaterhouseCoopers, the last five as an audit partner. Over the past nine years, he managed often-complex key transactions including acquisitions, financings, the spin-off from Canadian Pacific Limited and the subsequent equity capital raise and two public bond offerings, all three of which were oversubscribed. He has been significantly involved with all aspects of the company's publicly traded status, including investor relations, public financial reporting and its eventual sale.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

Coast Guard

USCG Monitoring Barge adrift in Beaufort Sea

U.S. Coast Guard personnel and Canadian federal agencies, including the Canadian coast guard, Transport Canada and Environment Canada, are monitoring a 134-foot

EUCAP Nestor Train 30 Somali Coast Guards

On 21 October, the European Union’s Maritime Capacity Building Mission in the Horn of Africa and Western Indian Ocean (EUCAP Nestor) celebrated the successful completion of a two month Mentoring,

Video: USCG Medevacs Navy Sailor off Virginia

The U.S. Coast Guard (USCG) medevaced a man Wednesday from a Navy vessel off the Virginia coast after watchstanders at Coast Guard Sector Hampton Roads in Portsmouth

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1391 sec (7 req/sec)