Avance Gas shuffles management

Norwegian shipping company Avance Gas has made a number of changes to its management.

The company said on Monday that Peder Carl Gram Simonsen will step down as interim CEO and CFO. The company did note Simonsen will be retained as an advisor for a certain period to ensure continuity.

Avance Gas has named Ben Martin as its chief commercial officer (CCO). Currently CCO at Flex LNG, a position he will continue to hold, Martin served as head of chartering for LNG and LPG at Trafigura.

Additionally, Randi Navda Bakkelund has been appointed chief financial officer (CFO). He already served as finance manager in Avance Gas since 2018. He also served as an auditor for shipping and offshore clients and as a consultant for eight years at EY.

Christian Fallesen has resigned as board member in the company as he will take up a new role in the LPG market, creating a conflict of interest with his directorship in Avance Gas.

Following the changes, the management team will consist of a CCO and CFO, and the company will no longer have a CEO. The changes to management positions will take place as soon as practically possible, and the resignation of Fallesen is with immediate effect.

Marius Hermansen, chairman of Avance Gas Holding, noted that following the resignation of Fallesen, the board of the company has started its search for his replacement.