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(RTTNews) - Ardmore Shipping Corp. (ASC) announced Monday that Founder and CEO Anthony Gurnee has informed the Board of Directors of his intention to retire from his executive and board positions later this year.

The Board has appointed current executive and Chief Commercial Officer Gernot Ruppelt as the Company's new CEO. The firm has also expanded current CFO Bart Kelleher's position to take on the additional role of President. Kelleher will maintain his role as the CFO until a successor is appointed.

The changes will become effective from September 16, at the company's upcoming quarterly board meeting. Both Ruppelt and Kelleher will be joining the Board of Directors of the Company.

Following his retirement from the Company, current CEO Gurnee will remain available to Ardmore as an advisor during the transition period.

Ruppelt joined Ardmore as Chartering Director in 2013 and was promoted to senior management one year later. Before joining Ardmore, he was a Tanker Projects Broker with Poten & Partners in New York, and also held various roles up to Trade Manager for AP Moller - Maersk and Maersk Broker in the United States, Europe and Asia.

Kelleher, who joined in 2022, holds over 25 years of experience in the maritime, finance, and industrials sectors. Prior to joining Ardmore, he served as CEO at stainless-steel chemical tanker company Chembulk Tankers, as well as COO at Suezmax crude carrier company Principal Maritime.

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