ANTWERP, Belgium, November 30, 2015 /PRNewswire/ --
Euronav NV (NYSE: EURN &
Euronext: EURN) ("Euronav" or the "Company") announces that the
Board of Directors unanimously appointed Carl Steen as member of the Board and has
elected him Chairman, following the resignation of the following
non-independent directors: Peter G.
Livanos, Marc Saverys and Julian
Metherell, all of which shall take effect from the close of
the meeting of the Board of Directors of the Company scheduled on
3 December 2015.
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The new Chairman has a breadth of experience in finance and
shipping as the former head of the Shipping, Oil Services and
International Division of Nordea
Bank, one of the largest lenders to the shipping and
offshore markets. In addition to his leading role in banking, Mr
Steen has many years of experience on boards of publicly traded
companies. His standing in the international shipping and
investment communities makes him a real asset to the Company.
These changes are part of a process to further increase the
independence and diversification of the board as the Company has
completed its migration to an independent public company with a
highly liquid share and a wide shareholder base. Since listing on
the NYSE in January 2015, Euronav has
been cognisant of the need to refresh the Board in order to deal
with the increasing regulation and complexity that comes from a
dual listing.
Peter G. Livanos, the outgoing
Chairman said "Having known Carl
Steen for years, I am delighted that he will succeed me in
the Chairman's role. The eleven years that I have spent on the
Board of Euronav have been an extremely positive experience. I am
proud to leave with Euronav considered first in class, having
successfully navigated many challenging times. I am delighted with
our financial accomplishments and particularly proud of an
exceptional operational record. I am convinced that the management
team under Paddy Rodgers will
continue to enjoy success."
Marc Saverys, the outgoing Vice-Chairman said: "It is with mixed
feelings that I am standing down from the Euronav Board but my
other shipping interests require my full attention at this point in
time. I am very proud of the progress the Company made especially
in recent years and I have every confidence in the continued
success of the Company and execution of strategy by the Board and
Executive Management team."
Paddy Rodgers, CEO of Euronav
said: "On a personal level, having worked closely with Peter and
Marc for many years, I will miss their counsel and guidance. Peter
and Marc have left a considerable legacy at Euronav. With Carl as
Chairman we will aim to continue to deliver on the foundations they
were so critical in building. I would also like to take this
opportunity to thank Julian
Metherell for his support, service and great insight, which
have been invaluable to the team at Euronav."
As from 3 December, the Board will comprise Carl Steen (Chairman), Ludovic Saverys,
Daniel Bradshaw, William (Bill) Thomson, Anne-Hélène Monsellato,
Alice Wingfield Digby, John Michael Radziwill, Ludwig Criel, Alexandros Drouliscos and
Paddy Rodgers.
Forward-Looking Statements
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation
Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words "believe", "anticipate", "intends", "estimate", "forecast",
"project", "plan", "potential", "may", "should", "expect",
"pending" and similar expressions identify forward-looking
statements.
The forward-looking statements in this press release are based
upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we
will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other important factors
that, in our view, could cause actual results to differ materially
from those discussed in the forward-looking statements include the
failure of counterparties to fully perform their contracts with us,
the strength of world economies and currencies, general market
conditions, including fluctuations in charter rates and vessel
values, changes in demand for tanker vessel capacity, changes in
our operating expenses, including bunker prices, drydocking and
insurance costs, the market for our vessels, availability of
financing and refinancing, charter counterparty performance,
ability to obtain financing and comply with covenants in such
financing arrangements, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential
liability from pending or future litigation, general domestic and
international political conditions, potential disruption of
shipping routes due to accidents or political events, vessels
breakdowns and instances of off-hires and other factors. Please see
our filings with the United States Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties.
Announcement of fourth quarter
results 2015: Thursday 28 January
2016
About Euronav
Euronav is an independent tanker company engaged in the ocean
transportation and storage of crude oil and petroleum products. The
Company is headquartered in Antwerp,
Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels
and on the NYSE under the symbol EURN. Euronav employs its fleet
both on the spot and period market. VLCCs on the spot market are
traded in the Tankers International pool of which Euronav is one of
the major partners. Euronav's owned and operated fleet consists of
56 double hulled vessels being one V-Plus vessel, 28 VLCCs (of
which 1 in 50%-50% joint venture), three VLCCs under construction
which were recently acquired as resales of existing newbuilding
contracts, 22 Suezmaxes (of which four are owned in 50%-50% joint
ventures) and two FSO vessels (both owned in 50%-50% joint
venture). The Company's vessels mainly fly Belgian, Greek, French
and Marshall Island flags.
Regulated information within the meaning of the Royal Decree
of 14 November 2007.
SOURCE Euronav NV