The British shipbroker and advisory firm Braemar is getting a new CEO. James Gundy takes a step back to the shipbroking business.
The company, whose main activities following the consolidation of recent years now include consulting in the areas of investments, chartering and risk management for the shipping and energy markets, today announced the upcoming change. James Gundy has informed the relevant bodies of his intention to step down as Group CEO and Director at the next Annual General Meeting on July 2. He intends to remain with Braemar, but will concentrate on his shipbroking activities in future.
The succession has already been arranged. The London-based company announced that the current Chief Financial and Operating Officer (CFOO) Grant Foley will take over the position. He only joined Braemar in August 2023, but has since made a “significant contribution to the growth of the company alongside James Gundy”, according to the statement. It is still unclear who will take over as CFO in the future. The search is already underway.
Nigel Payne, Chairman of the Supervisory Board, thanked Gundy for his work in recent years: “In that time, James has refocused Braemar, profitably disposed of marginal businesses, reduced a heavy debt burden and created a much more diversified and resilient shipbroking business. I am delighted that James will continue to serve his brokerage clients following his departure from the company.”
Braemar – which has also owned the Hamburg-based financial advisor Naves since 2017 – has worked hard on its service portfolio in recent years. Among other things, the “Technical Services” segment was sold off and the company’s involvement in financial consulting was expanded.
