Captain Rajalingam Subramaniam is stepping down as chief executive of giant Malaysian shipowner MISC after less than two years.

The 40-year industry veteran is said to have “opted to resign and pursue his other interests”, the company said in a regulatory filing.

Zahid Osman, president and chief executive of the company’s tanker arm, AET, has been named as his successor in what MISC described as in accordance with its “succession planning process”.