Nicolas Busch has stepped down as chief executive of Navig8 Chemical Tankers one day after TradeWinds reported the owner is facing behind-the-scenes turmoil.
The move comes amid investor discontent with management and the failure of Interline 9001 coatings on some vessels in its fleet.
In recent weeks, major backer Oaktree Capital Management has taken steps to replace chief executive Busch with tanker veteran Jens Gronning, who has been a member of the company’s board, sources had said.
