Navigator Holdings Ltd. (“Navigator” and the “Company”) (NYSE:
NVGS), the owner and operator of the world’s largest fleet of
handysize liquefied gas carriers, announces today that Mr. Niall
Nolan will step down as Navigator’s Chief Financial Officer
(“CFO”), effective June 30, 2023.
Mr. Gary Chapman has been appointed as successor
to Mr. Nolan, and is anticipated to join the Company latest
October, 2023. Mads Peter Zacho, Navigator’s Chief Executive
Officer, will take on the responsibilities on an interim basis with
support from Navigator’s finance team, until Mr. Chapman joins the
Company.
Mr. Nolan was appointed as Navigator’s CFO in
August 2006. During his tenure, Mr. Nolan was closely involved in
the growth of the fleet to its current 56 vessels, as well as the
Company’s 50% ownership of the ethylene export marine terminal
joint venture and its Greater Bay Gas joint venture.
Mr. Chapman joins the Company from KNOT Offshore
Partners LP, where he has served as both CEO and CFO since June
2019. Prior to that, Mr. Chapman was Chief Financial Officer of
Biggin Hill Airport Ltd., a private business aviation airport in
London, served as Finance Director of NYK’s energy transport
business in the EMEA region from 2008 to 2017, and as European Head
of Tax for the NYK Group in Europe from 2003. Mr. Chapman has also
performed various audit and tax roles for KPMG, including as a
member of the Oil and Gas group.
Mr. Chapman is a fellow of the Institute of
Chartered Accountants in England and Wales, holds a degree in
Economics from Loughborough University, and is a board member and
trustee of The Mission to Seafarers charity.
Dag von Appen, Navigator’s Non-Executive
Chairman, commented:
“On behalf of the Board, I would like to thank
Niall for his long service, dedication and contribution to the
Company. We wish him all the best for his future endeavours.
“I am delighted to welcome Gary to Navigator.
Gary brings a wealth of highly relevant sector and financial
experience, along with broader commercial skills which will be
invaluable to Navigator as we look to grow the business over the
coming years.”
Mr. Nolan, Navigator’s outgoing CFO,
said:
“It has been an honour and a privilege to have
worked as Chief Financial Officer with so many talented people over
the past two decades, in building the Company from the initial five
vessels to what it is today. I wish my successor and the Company
the very best of luck with the next phase of its development.”
Gary Chapman, incoming CFO,
added:
“I am delighted to be joining Navigator. It is a
business that I've followed closely, and I look forward to working
with the Board and the leadership team to build on the successes
already achieved under Niall’s tenure.”
About Navigator GasNavigator
Holdings Ltd. is the owner and operator of the world’s largest
fleet of handysize liquefied gas carriers and a global leader in
the seaborne transportation services of petrochemical gases, such
as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia
and owns a 50% share, through a joint venture, in an ethylene
export marine terminal at Morgan’s Point, Texas on the Houston Ship
Channel, USA. Navigator’s fleet now consists of 56 semi- or
fully-refrigerated liquefied gas carriers, 25 of which are ethylene
and ethane capable. The Company plays a vital role in the liquefied
gas supply chain for energy companies, industrial consumers and
commodity traders, with its sophisticated vessels providing an
efficient and reliable ‘floating pipeline’ between the parties,
connecting the world today, creating a sustainable tomorrow.
Navigator’s common stock trades on the New York
Stock Exchange under the symbol “NVGS”.
Navigator Gas |
Attention: |
Investor Relations
investorrelations@navigatorgas.comand randy.giveans@navigatorgas.com |
Address: |
333 Clay Street, Suite 2400,
Houston, Texas, U.S.A. 77002 |
Tel: |
+1 713 373 6197 and +44 (0)20
7340 4850 |
Investor Relations / Media AdvisorsNicolas
Bornozis / Paul LampoutisCapital Link – New YorkTel:
+1-212-661-7566Email: navigatorgas@capitallink.com
Forward Looking Statements
This press release contains certain
forward-looking statements concerning plans and objectives of
management for future operations or economic performance, or
assumptions related thereto, including statements concerning the
anticipated start date for Mr. Chapman. In addition, we and our
representatives may from time to time make other oral or written
statements that are also forward-looking statements. In some cases,
you can identify the forward-looking statements by the use of words
such as “may,” “could,” “should,” “would,” “expect,” “plan,”
“anticipate,” “intend,” “forecast,” “believe,” “estimate,”
“predict,” “propose,” “potential,” “continue,” “scheduled,” or the
negative of these terms or other comparable terminology.
Forward-looking statements appear in a number of places in this
press release. These forward-looking statements involve many risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements.
These risks and uncertainties include but are not limited to those
set forth in the periodic reports Navigator files with the
Securities and Exchange Commission.
All forward-looking statements included in this
press release are made only as of the date of this press release.
New factors emerge from time to time, and it is not possible for us
to predict all of these factors. Further, we cannot assess the
impact of each such factor on our business or the extent to which
any factor, or combination of factors, may cause actual results to
be materially different from those contained in any forward-looking
statement. We expressly disclaim any obligation to update or revise
any forward-looking statements, whether because of future events,
new information, a change in our views or expectations, or
otherwise. We make no prediction or statement about the performance
of our common stock.
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