New York-based tanker company Overseas Shipholding Group announced last night that it has, in effect, fired its Chief Financial Officer and Treasurer, Mr. Myles R. Itkin, a man who has spent the last 18 years of his professional career managing the company’s finances.
In their release, they note that they have, “implemented a reduction in force intended to improve operational efficiencies in connection with the Company’s restructuring efforts,” and as part of that, Mr. Itkin will be clearing out his office, so to speak, to make room for his immediate successor, Captain Ian T. Blackley, OSG’s former SVP and Head of International Shipping Operations.
This is a particularly interesting leadership change as it comes while OSG is currently under Chapter 11 bankruptcy protection and almost two months after their former CEO Morten Arntzen was let go.
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