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Tue 12 Jul 2011, 08:12 GMT

Chemoil names global sales director

International bunker supply firm Chemoil has announced the appointment of Peter Grundwaldt as director of global sales.

Grundwaldt was previously employed as general manager of bunker purchasing for ST Shipping & Transport Pte., the shipping arm of global commodity trading firm Glencore, Chemoil's majority shareholder. He will be reponsible for Chemoil's global sales and marketing activities.

The appointment of Grundwalt follows a string of resignations over the last few months including that of Adrian Tolson who, after 25 years with the company, decided to resign last month from his position as Vice President of Sales and Marketing.

His departure followed the loss of Chief Financial Officer (CFO), Jerry Lorenzo, from the Singapore office in March and Global Business Development Manager, Keith Richardson, from the San Francisco office in January.

Another long-standing member of staff to have left last month was George Pence, Manager of Sales and Marketing in the United States, who worked at Chemoil's San Francisco office for some 12 years.

Richardson's departure came only three weeks after the appointment of Ocean Connect's former Chief Executive Officer, Tom Reilly, as CEO and Director on January 3rd 2011. The appointment was linked to Chemoil's acquisition of OceanConnect Holding's marine fuel business for approximately US$25 million.

In March, Chemoil announced a new management team which included the promotion of various Chemoil veterans and brought in experienced professionals in a bid to help lead the company towards a period of sustainable growth after generating a loss of US$9.5 million in 2010.

Former OSG Senior Vice President, Mats Berglund, joined Chemoil as Chief Financial Officer and Chief Operating Officer. Sanjay Anand, who had been Chemoil's Managing Director for Asia and Vice President of Shipping and Logistics, was promoted to Senior Vice President of Global Operations.

In addition, S I Shim, who was formerly Managing Director for Asia at OceanConnect, was named Managing Director of newly-acquired bunker trading entity OceanConnect Marine. Raymund Murga, former Finance Director for Chemoil was promoted to Vice President, Finance and Vasanth Kumar former Director of Risk Management, was promoted to Director of Global Commercial and Corporate Risk.

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