Ardmore Shipping Announces Leadership Transition

Core Viewpoint - Ardmore Shipping Corporation announces the retirement of Founder and CEO Anthony Gurnee, with Gernot Ruppelt appointed as the new CEO and Bart Kelleher as President, effective September 16, 2024, marking a significant leadership transition for the company [1][3][4] Leadership Transition - Gernot Ruppelt, currently the Chief Commercial Officer, will take over as CEO, while Bart Kelleher will expand his role from CFO to also include President [1][2] - Both Ruppelt and Kelleher will join the Board of Directors, with Ruppelt maintaining his responsibilities for the commercial platform until a successor is appointed [2] - The leadership transition is the result of a long-established succession planning process within the company [1][4] Acknowledgment of Current Leadership - Curtis McWilliams, Chairman of the Board, expressed gratitude for Gurnee's leadership over the past 14 years, highlighting the company's improved profitability and positioning [3] - Gurnee reflected on the company's journey since its inception in 2010, emphasizing the collaborative efforts that led to Ardmore's current success [3][4] Future Outlook - Gurnee expressed confidence in the new leadership team, stating that it is the right time for him to step down and allow the new team to lead Ardmore into its next chapter [4] - Ruppelt expressed honor in being selected to guide Ardmore forward, emphasizing the company's strong team and commitment to long-term strategy [4][5] Company Profile - Ardmore Shipping Corporation operates a fleet of MR product and chemical tankers, providing seaborne transportation of petroleum products and chemicals globally [7] - The company's strategy focuses on developing a modern fleet, building long-term commercial relationships, and maintaining cost advantages [7] - Ardmore's Energy Transition Plan aims to enhance its operational efficiency and explore sustainable cargo options [8]