Overseas Shipholding Group, Inc. (OSG or the Company) (NYSE: OSG), a
market leader providing global energy transportation services, today
announced several executive management changes at OSG and at OSG America
L.P. (NYSE: OSP), a master limited partnership in which OSG has a 77.1%
interest. The changes are effective immediately.
At OSG, Captain Robert Johnston, Senior Vice President and Head of
Shipping Operations, has been appointed Head of the U.S. Flag Strategic
Business Unit. Captain Ian T. Blackley, Managing Director and Chief
Operating Officer of OSG Ship Management (UK) Ltd., has been appointed
Head of International Shipping Operations.
At OSG America L.P., Myles R. Itkin, previously Chief Financial Officer
of OSG America, was appointed President and Chief Executive Officer,
replacing Jonathan Whitworth who resigned from the Company. Mr. Itkin
retains his current position as Executive Vice President, Chief
Financial Officer and Treasurer of OSG. Henry P. Flinter, Vice
President, Corporate Finance of OSG Ship Management, Inc., has been
promoted to Chief Financial Officer of OSG America L.P., filling the
position vacated by Mr. Itkin. Mr. Flinter was also appointed to the
Board of Directors of OSG America LLC.
Morten Arntzen, President and Chief Executive Officer of OSG, commented,
“Today’s management changes enhance our operational leadership in all
aspects of our business and demonstrate the breadth and depth of our
global management team. Bob Johnston’s unwavering commitment to quality
operations has unified OSG’s ratings, officers and shoreside personnel
through common processes across our International and U.S. Flag fleet. I
am confident his dedication to success will benefit our U.S. Flag
business. Moving Captain Johnston into this role, a veteran in the U.S.
Flag market, demonstrates our unwavering commitment to this important
business unit.” Arntzen continued, “Ian Blackley’s track record of
leadership and hands-on management has been critical to improved
operational performance of the crude oil tanker fleet. Captain Blackley
will work with Captain Johnston and Captain George Dienis, the head of
our Athens office, to ensure that we have the same high standard of
operations and focus on safety throughout the OSG Fleet.”
Captain Robert Johnston, 61, brings more than four decades of shipping
experience to his new role. Since his appointment as Head of Shipping
Operations in 2005, he has established numerous programs focused on
improved safety, environmental and operational performance of the
Company’s International and U.S. Flag fleet. Most recently he created an
open reporting system for crews and established an Operations Integrity
Group. Captain Johnston began his career at OSG in 1969 as third mate
and since coming shoreside in 1976, has served in numerous capacities at
the Company. Captain Johnston will relocate and lead the U.S. Flag
business from Tampa, Florida.
Captain Ian T. Blackley, 54, has more than 37 years experience in ship
operations. In his new role, he will oversee technical management of
OSG’s International Flag fleet, including operations in Athens, Greece;
Newcastle, United Kingdom; and Manila, Philippines. Captain Blackley is
also Managing Director and Chief Operating Officer of OSG Ship
Management (UK) Ltd. with technical management oversight of the
Company’s crude oil tanker fleet, a position he has held since 2005.
Most recently he established technical operations for the Company’s LNG
carriers. Since joining OSG in 1991, Captain Blackley has held numerous
financial and operational roles including Vice President Treasury.
Captain Blackley will report to Morten Arntzen, President and CEO.
In his capacity as Chief Financial Officer of OSG, Myles R. Itkin, 61,
has been instrumental in directing a disciplined financial strategy as
the Company has more than doubled its operating and newbuild fleet in
the last five years. Most recently, he directed company-wide process
improvement and cost reduction initiatives. Mr. Itkin’s responsibilities
include finance, accounting, treasury, strategic planning, investor
relations, risk management and information technology.
Prior to his promotion, Henry P. Flinter, 44, was Vice President
Corporate Finance, responsible for treasury, corporate finance and
capital market transactions at OSG. Most recently in this role, he
represented OSG in completing $500 million in financing for a joint
venture with Euronav NV (EURONEXT BRUSSELS: EURN) to convert two ULCCs
to FSO (Floating Storage Offloading) service vessels. Mr. Flinter joined
OSG in 2002 and has nearly 20 years experience in senior finance and
accounting positions. Mr. Flinter will report to Captain Johnston and
will relocate to Tampa, Florida.
Additional information about the management team can be found on www.osg.com
and www.osgamerica.com.
ABOUT OSG
Overseas Shipholding Group, Inc. (NYSE: OSG), a Dow Jones Transportation
Index company, is one of the largest publicly traded tanker companies in
the world. As a market leader in global energy transportation services
for crude oil and petroleum products in the U.S. and International Flag
markets, OSG is committed to setting high standards of excellence for
its quality, safety and environmental programs. OSG is recognized as one
of the world’s most customer-focused marine transportation companies and
is headquartered in New York City, NY. More information is available at www.osg.com.
