The appointment was decided following a professional search and assessment process, the company said. The Company has now started a search for a new CFO.

I look forward to continue creating value for all our stakeholders in an exciting environment full of opportunities and challenges,

...stated Hugo De Stoop, new CEO of Euronav, on the occasion of the decision announcement.

The Board is very pleased to confirm the appointment of Hugo. In his time at the Company he has consistently added significant value well beyond the financing of the business, often in challenging circumstances and he has also given strong strategic direction within the executive management team. His appointment provides continuity with our strategy and we look forward to the next chapter at Euronav under his stewardship,

...said Carl Steen, Chairman of Euronav.

The news follows the merger of Euronav with US-based crude oil shipping company Gener8 Maritime, in June 2018, which created the largest independent crude tanker operator in the world, with 76 operating crude tankers, consisting of 43 VLCCs, 27 Suezmaxes, 2 ULCC, two Panamax tankers and two FSOs under joint venture.