John Fredriksen-backed Golden Ocean is looking for a new CEO after Birgitte Ringstad Vartdal resigned.
Vartdal has been the boss since April 2016, having become CFO in 2010.
Chairman Ola Lorentzon will be interim CEO until a successor is found.
Vartdal's last day is 30 November, but she will remain "available" to the company until the end of February 2020.
She said: "I have had 10 fantastic years with Golden Ocean and am pleased with the development of the company during this period.
"The company is now in a solid financial position, just delivered its best quarterly result since 2013 and is well prepared ahead of IMO 2020."
She added: "I am proud of what all our dedicated and knowledgeable colleagues have created, and I am confident that Golden Ocean has a bright future."
Own decision
Vartdal told TradeWinds: “The decision to quit Golden Ocean Group is entirely my own.”
“Everything is in order in the company that I took over in 2016 and I have delivered on the goals I set for myself when I started.”
She said the decision to quit had matured over time and that the final decision was given to the board before the release of the third quarter results on Thursday.
Vartdal has not decided what to to next.
Ola Lorentzon, the company’s chairman is stepping in as an interim CEO.
Lorentzon is a veteran in the Fredriksen Group of companies. He has been a director of Golden Ocean since 1996 and chairman since 2000. Lorentzon was CEO of Golden Ocean from May 2000 to March 2015.
He is a director of Frontline and Flex LNG and was CEO of Frontline Management from April 2000 till September 2003.
Lorentzon added: "I would like to thank Birgitte for her efforts throughout the last 10 years, first as CFO and then as the CEO since 2016.
"Birgitte has had an important role in the management and development of the company. I wish Birgitte all the best for the future. "
Net profit for the third quarter was $36.69m, up from $35.28m a year ago, from revenue of $219.33m, against $189.25m.
