Seaspan Corporation has appointed Bing Chen as its new chief executive officer, effective from January 2018.
According to Seaspan, Chen, who has also been appointed to the board of directors, succeeds Gerry Wang, who will be retiring as CEO and director from November 3, 2017. Peter Curtis, executive vice president and chief operating officer, will serve as Seaspan’s interim chief executive officer until Chen’s arrival, after which he will continue in his current role.
“Leveraging Seaspan’s resilient platform and incredible team, we will strive to constantly provide the best services and innovative solutions for our loyal customers around the world,” said Chen. “I am humbled and honoured to be its next CEO as we continue to build and grow profitably. I am confident that Seaspan will continue to strengthen its position as the leader in the global container ship leasing industry.”
Over his 25-year career, Chen has held executive positions in China, Europe and the US, most recently serving as CEO of BNP Paribas (China) Ltd. From 2011 to 2014, he was the general manager of Trafigura’s Chinese business operations, where he maintained full P&L responsibility for domestic and international commodities trading in the country. Between 2009 and 2011, Chen was responsible for building the Greater China investment banking practice of Houlihan Lokey, Inc. as the managing director and head of its Asia financial advisory. He previously held various leadership roles in Europe, including as CEO, CFO, and managing director of leasing and aircraft chartering businesses.
Chen holds a B.S., Accountancy (Magna Cum Laude) (Honours) from Bernard Baruch College and an MBA (Honours) from Columbia Business School.
“We are pleased to have reached a very successful conclusion to our CEO search, and to have a seasoned professional like Mr. Chen join our executive team,” said David Sokol, chairman of Seaspan’s board of directors. “Mr. Chen has diverse operating and financial business experience as well as strong relationships in our key markets in Asia and Europe. We feel the talents he brings to the table make him an ideal complement to the talents of Peter Curtis, EVP and COO, Mark Chu, general counsel, and David Spivak, CFO. On behalf of the board of directors, I would like to thank Gerry Wang for his nearly 20 years of leadership and for completing an orderly transition. We are also pleased that Peter Curtis has agreed to act as interim CEO while continuing to oversee all commercial and operating functions of Seaspan.”
Excluding one remaining 4,250 TEU vessel which is being sold, Seaspan has an operating fleet of 88 ships and a managed fleet of 110 container ships with a total capacity of approximately 900,000 TEUs.