Takeovers of public shipping companies often see top management head for the exit door, but that is not the case in Saltchuk Resources’ acquisition of Overseas Shipholding Group.
OSG chief executive Sam Norton confirmed to TradeWinds that the plan is for him to remain at the helm of the US-flag tanker owner after the transaction closed on Wednesday.
“No specific timeline has been prescribed, although the intention on all sides is that this will not be [a] short-term position,” he said in an email to TradeWinds.
