NEW YORK, July 20, 2017 /PRNewswire/ -- Aegean Marine
Petroleum Network Inc. (NYSE: ANW) ("Aegean" or the "Company")
today announced that its Board of Directors has appointed
Jonathan Mcilroy as President,
effective immediately.
"Following a comprehensive search process, we are pleased to
appoint a leader of Jonathan's caliber as President of Aegean,"
said Yiannis Papanicolaou, Interim
Chairman of the Board. "Having joined Aegean in January 2016, over the last 18 months, Jonathan
has played a critical role in successfully expanding Aegean's
back-to-back trading division and worked with all the group's
physical supply stations to drive growth in contracted volumes
with major clients. Jonathan was initially recruited to bring a
fresh international perspective to all aspects of the business
including physical supply, back-to-back trading, sales &
marketing and credit policies. Since joining Aegean, Jonathan fully
engaged his 25 years of experience of working with ship operating
clients, traders and third party physical suppliers in all major
regional markets for shipping and bunkering globally and opened new
marketing offices, recruited top talent and developed group
strategies to better reflect the state of today's bunker
markets."
Mr. Papanicolaou continued, "While serving as Aegean's Global
Trading Manager, Jonathan developed strong customer relationships
and broadened Aegean's exposure in all shipowning and operating
segments of the maritime industry. With significant industry
experience and familiarity with Aegean's unique platform, we are
confident in Jonathan's ability to lead our strategic shift to a
more profitable model."
Mr. Mcilroy said, "Aegean has established a global platform with
a reputation for high-quality customer service and I am honored to
serve as President. I look forward to working alongside this
talented group to continue to deploy resources into the most
effective and profitable markets. Aegean is well positioned for
continued success and I am excited to lead this company and enhance
shareholder value."
The Company also announced that Jean
Jose ("JJ") Metey, who has served as interim President since
June 2017, has been appointed Vice
President and Head of Corporate Development, effective
immediately.
Mr. Papanicolaou said, "On behalf of the Board, I thank JJ for
serving as interim President and for his assistance during a
seamless transition process. We look forward to JJ's continued
contributions to Aegean as Vice President and Head of Corporate
Development."
About Jonathan Mcilroy
Mr. Mcilroy has nearly 25 years of experience in the shipping,
energy and bunker trading markets. Mr. Mcilroy has served as Global
Trading Manager of Aegean since January
2016. As Global Trading Manager, Mr. Mcilroy managed the
expansion of the back-to-back trading division and has helped
developed the commercial strategy, global marketing efforts and
credit policies. Prior to joining Aegean, Mr. Mcilroy served as a
Marketing Manager at Cockett Marine Oil from 2012 to 2015.
Previously, he was a Credit Manager at Peninsula Petroleum from
2005 to 2012. Before Peninsula Petroleum, Mr. Mcilroy held roles
with Platts, Infospectrum Ltd and MRC Business Information Ltd. Mr.
Mcilroy received a BA and an MA with First Class Honors from the
University of Oxford, Trinity College.
About Jean Jose Metey
Mr. Metey, Director of Corporate Development at Aegean, has more
than 30 years of management and executive experience in the oil and
servicing industry. Prior to joining Aegean in 2006, Mr. Metey
spent more than 20 years in various roles with BP OIL, including
Head of Bunkering with BP France and BP OIL U.K. and General
Manager of Business Development at BP OIL International Supply and
Trading in London.
About Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. is an international marine
fuel logistics company that markets and physically supplies refined
marine fuel and lubricants to ships in port and at sea. The Company
procures product from various sources (such as refineries, oil
producers, and traders) and resells it to a diverse group of
customers across all major commercial shipping sectors and leading
cruise lines. Currently, Aegean has a global presence in over 30
markets and a team of professionals ready to serve our customers
wherever they are around the globe. For additional information
please visit: www.ampni.com.
Cautionary Statement Regarding Forward-Looking
Statements
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation
Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words "believe," "intend,"
"anticipate," "estimate," "project," "forecast," "plan,"
"potential," "may," "should," "expect" and similar expressions
identify forward-looking statements. The forward-looking statements
in this press release are based upon various assumptions, many of
which are based, in turn, upon further assumptions, including
without limitation, our management's examination of historical
operating trends, data contained in our records and other data
available from third parties. Although we believe that these
assumptions were reasonable when made, because these assumptions
are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors
that, in our view, could cause actual results to differ materially
from those discussed in the forward-looking statements include our
ability to manage growth, our ability to maintain our business in
light of our proposed business and location expansion, our ability
to attract and retain senior management and other key employees,
our ability to obtain double hull secondhand bunkering tankers, the
outcome of legal, tax or regulatory proceedings to which we may
become a party, adverse conditions in the shipping or the marine
fuel supply industries, our ability to retain our key suppliers and
key customers, material disruptions in the availability or supply
of crude oil or refined petroleum products, changes in the market
price of petroleum, including the volatility of spot pricing,
increased levels of competition, compliance or lack of compliance
with various environmental and other applicable laws and
regulations, our ability to collect accounts receivable, changes in
the political, economic or regulatory conditions in the markets in
which we operate, and the world in general, our failure to hedge
certain financial risks associated with our business, our ability
to maintain our current tax treatments and our failure to comply
with restrictions in our credit agreements and other factors.
Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties.
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SOURCE Aegean Marine Petroleum Network Inc.