Norwegian LNG shipping company Awilco LNG is preparing for a significant transformation as it moves forward with both a leadership overhaul and a proposed corporate rebrand.
Only days after confirming the departure of long-serving chief executive Jon Skule Storheill, the Oslo-listed company has now revealed plans to change its name from Awilco LNG to “ALNG”.The proposal will be submitted to shareholders for approval during the annual general meeting scheduled for June 3.
Storheill, who has led the company since Awilco LNG’s stock market listing in 2011, recently agreed with the board that the company should enter its next phase under new leadership. His exit marks the end of an era for the LNG owner and comes alongside broader management restructuring plans.
The transition will not be limited to appointing a new CEO. Awilco LNG is also preparing wider changes across senior management, as well as a proposed reshuffle of the board of directors to be presented at the upcoming shareholder meeting.
The planned rebranding to ALNG appears to reflect a broader strategic reset for the Norwegian shipowner as it positions itself for the future LNG shipping market.
Awilco LNG currently owns two 156,000 cu m TFDE membrane LNG carriers built in 2013 WilForce and WilPride.
