Fednav announces change at the top

A major corporate leadership change has been announced at Fednav Limited, Canada’s largest ocean-going dry bulk shipowning and chartering group as well as operator of 12 terminals on the Great Lakes, St. Lawrence River and the East and Gulf coasts. The Montreal-based, privately-controlled enterprise indicated that effective September 10, Paul Pathy will assume responsibility as the sole Chief Executive Officer of Fednav Limited and of Fednav International Ltd (FIL). Since 2010, brothers Paul and Mark Pathy successfully led Fednav Limited as co-CEOs, and Mark as President and CEO of Fednav International Ltd. (FIL) since 2008. However, as shareholders, Paul and Mark have concluded that it would be best for Fednav to operate under one leader, stated a company press release. “In his role as co-CEO of Fednav Limited and President and CEO of FIL, Mark has played a significant, indeed essential, leadership role in ensuring the success of the company during a period marked by considerable changes in the market and in our commercial staff,” said Laurence Pathy, chairman of the Board. “While he is resigning from his positions, he will continue to be involved in the company’s activities as a major shareholder and member of the Board.” Paul Pathy joined Fednav in 2003 as Vice-President and General Manager of Federal Marine Terminals, moving to Senior Vice-President of the Business Development Group in 2007. Since 2010 he has been responsible for various company departments including the Shipowning, Arctic Operations, and Projects group, as well as Finance, Investment, and Risk Management. As well as a leader in international shipping on the Great Lakes, notably through its Fednav Atlantic Lakes Line (FALLine), Fednav has been a pioneer in Arctic shipping. It operates a fleet of some 85 vessels and employs 280 office staff worldwide. Commercial offices outside Canada are maintained at Antwerp, Charlotte, London, Hamburg, Rio de Janeiro, Singapore and Tokyo.