Western Bulk CEO Resignation Sparks Leadership Shift

Silhouettes of bulk carriers at sea
Updated Published

Hans Aasnæs is relinquishing his role as the chief executive officer at Western Bulk Chartering, a Norwegian dry bulk operator.

The organization, which is publicly traded on the Oslo stock exchange, has announced its intention to initiate the quest for a new Chief Executive Officer. Aasnæs will resign upon the identification of his replacement. In the interim, a temporary CEO will be named soon.

Aasnæs made the move to Western Bulk from the industrial investment firm UMOE Group in July 2019, stepping in for Jens Ismar who had been at the forefront for close to 11 years.

“I am grateful for Hans' contributions throughout his period as CEO of Western Bulk. He has led the company through an important phase and has been instrumental in building the company’s strong culture,” Bengt Rem, who serves as the chairman of Western Bulk, remarked.

Specializing in the handysize, supramax, and ultramax sectors, Western Bulk will manage an average fleet of 128 vessels in the latter part of 2023. During this period, the company experienced a notable shift, recognizing a net loss of $10.8 million compared to the $28.6 million profit recorded at the same time the previous year. The controlling stake in the company is held by Christen Sveaas through his investment entity, Kistefos.