USA: Intermarine Appoints New CEO

Intermarine, the leader in project and heavy lift cargo transportation, announced on Friday, June 22, that Alfred (Al) JV Stanley has joined Intermarine as President and Chief Executive Officer (CEO). Andre Grikitis, Intermarine’s former President and CEO, will now assume the role of Operating Chairman.

“This is a great opportunity for Intermarine to continue strengthening its leadership team and business momentum,” said Mr. Grikitis. “Al has a unique balance of both operating and private equity experience. Given his proven record of growing companies and delivering operating results, the board of directors and I are very confident in Al’s ability to lead Intermarine as we continue to expand our global position.”

Mr. Stanley brings extensive operating and investment experience to his new role with Intermarine. Most recently he was a Partner at Morgenthaler Partners ($3 Billion assets under management), where he successfully invested in growth oriented buy-out investments in Logistics, Distribution and Industrial Technologies. Prior to joining Morgenthaler in 2004, Mr. Stanley served as President and CEO of GE Insurance Solutions’ Global Life & Health Reinsurance Unit, Executive Vice President and Chief Operations Officer of GE Insurance Solutions (formerly Employers Reinsurance Corp), and Chairman and CEO, GE International – Mexico. Mr. Stanley holds a B. Sc. in Engineering from Queen’s University and a MBA from the Harvard Business School.

“Intermarine has a unique leadership position in the global project and heavy lift industry” said Mr. Stanley. “I look forward to working with the talented Intermarine team as we build and expand on their impressive capabilities of providing outstanding service to our valued network of customers.”

“Although the global shipping industry has experienced a difficult downturn, we believe there are clear opportunities for consolidation, growth and expansion” noted Mr. Grikitis. “As we pursue those opportunities, Al’s leadership, and operating and investing skills, are an excellent complement to our existing team.”

Intermarine’s services operate a fleet of 25 modern, shallow draft vessels worldwide, including in its market leading liner service between North and South America, and it boasts the largest fleet of U.S. flag heavy lift/project vessels (6) in the sector. The company also owns and operates the United States’ most active project cargo load center, Industrial Terminals, in Houston, Texas.

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Source: Intermarine, June 25, 2012