Douglas Wheat steps down as chairman of International Seaways

Douglas Wheat has stepped down as chairman of New York-listed International Seaways.

The industry veteran who has chaired Seaways’ since November 2016, will be replaced by Ian Blackley – the company’s board member and former top man at its predecessor Overseas Shipholding Group.

“Wheat’s resignation was not the result of any disagreement with the company or the board on any matter relating to the company’s operations, policies or practices,” the US tanker owner said.

In acknowledgment of Wheat’s service, the board has appointed him as chairman emeritus.

“Doug Wheat has been an exceptional chairman for International Seaways,” stated Blackley, adding: “Since the company became a standalone public entity in December 2016, Doug has led the transformation of International Seaways into a multi-billion-dollar organisation focused on the safe and reliable seaborne transportation of energy, while maintaining a balanced business model to support future growth.”