Board of directors

Our Board comprises eight Directors whose complementary expertise and shared commitment to responsible investment and management practices is harnessed in the overall interests of our diverse shareholders and other stakeholders.

Executive director

  • Martin Fruergaard
    Chief Executive Officer
  • Martin Fruergaard

    Chief Executive Officer


    Mr. Fruergaard joined Pacific Basin as an Executive Director in July 2021. He previously spent 26 years with A.P. Moller-Maersk A/S in Copenhagen and Houston, starting in 1989 at Maersk Tankers followed by the group’s gas carrier operation until 1995, before occupying managerial and leadership positions including senior director of Maersk Bulk Carriers, senior vice president of Maersk Tankers, and chief commercial officer of Maersk Drilling. From 2015 to June 2021, he served as chief executive officer of gas tanker owner and operator Ultragas.

    Education & qualifications:

    International Institute for Management Development: EMBA degree
    Various executive courses at IMD and Harvard Business School
    Advanced Management Program at Harvard Business School

    Term of office:

    Appointed Executive Director in July 2021 for 3 years

    External appointments:

    Executive Committee member of the Hong Kong Shipowners Association

    Committee membership:

    Chairman of Executive Committee

    Independent non-executive directors / Non-executive directors

  • Stanley H. Ryan
    Chairman
  • Irene Waage Basili
    Independent Non-executive Director
  • Kirsi K. Tikka
    Independent Non-executive Director
  • Stanley H. Ryan

    Chairman


    Mr. Ryan served with Cargill, Inc. for 25 years in executive and general management roles worldwide including as general manager of Cargill’s oilseed operations, and Venezuela and Brazil refined oils businesses. He was president of Cargill’s North American dressings, sauces and oils business, and managing director of Cargill’s refined oils business in Europe and food ingredients business in Australasia. He was a global co-leader of Cargill’s agricultural supply chain businesses and a member of its global corporate center. Mr. Ryan served as an independent director at Eagle Bulk Shipping Inc. from October 2014 to June 2016 and as its interim chief executive officer from March to September 2015. He also served as a chief executive officer and a president of Darigold, Inc. from February 2016 to March 2022.

    Education & qualifications:

    University of Notre Dame: Bachelor of Economics and Computer Applications degree
    University of Chicago: MBA & Master of Arts degree in International Relations

    Term of office:

    Appointed INED in July 2016
    Current term expires at the 2024 AGM

    External appointments:

    Senior advisor of McKinsey & Company
    Independent director of Toronto-listed Saputo Inc.

    Committee membership:

    Chairman of Nomination Committee
    Remuneration and Sustainability Committees

    Irene Waage Basili

    Independent Non-executive Director


    Mrs. Basili held various managerial positions in the shipping industry, including Western Bulk Carriers Holding ASA. From 1999 to 2007 she held positions in Wallenius Wilhelmsen Logistics, first as a manager of contracting and strategy and later as commercial director in 2004. From 2007 to 2011, Mrs. Basili served as vice president, marine business unit of Petroleum Geo Services following its acquisition of Arrow Seismic ASA where she was the chief executive officer. She also served as a director of Odfjell SE from 2008 to 2014, the chief executive officer of GC Rieber Shipping from March 2011 to April 2017, a director and the deputy chairman of Kongsberg Gruppen ASA from May 2011 to May 2019 and 
    a director of Wilh. Wilhelmsen Holding ASA from May 2016 to May 2020  (all listed on the Oslo Stock Exchange).

    Education & qualifications:

    Boston University: Bachelor of Business Administration degree

    Term of office:

    Appointed INED in May 2014
    Current term expires at the 2026 AGM

    External appointments:

    Chief executive officer of Shearwater Geoservices

    Committee membership:

    Chairman of Remuneration Committee
    Nomination Committee

     

    Kirsi K. Tikka

    Independent Non-executive Director


    Dr. Tikka served with American Bureau of Shipping (“ABS”) for 18 years from 2001 to 2019, having started as vice president, engineering and then in a variety of specialist and leadership roles including as vice president, global technology, business development and special projects (2005-2011), vice president and chief engineer, global (2011-2012); president and chief operating officer, ABS Europe Division (2012-2016); executive vice president, global marine (2016-2018), and executive vice president and senior maritime advisor (2018-2019).  As executive vice president in ABS, she held responsibility for aligning ABS’ strategic planning, sustainability program and other product and service offerings with the industry’s technical needs. Prior to joining ABS, Dr. Tikka was a professor of Naval Architecture at Webb Institute in New York (1996-2001) and she worked as a naval architect, operations planner and analyst at Wartsila Shipyards and Chevron Shipping.

    Education & qualifications:

    University of California, Berkeley: PhD in Naval Architecture and Offshore Engineering
    University of Technology, Helsinki: Master’s degree in Solid Mechanics and Naval Architecture 
    Harvard Business School: Executive Training Program, Management Development

    Term of office:

    Appointed INED in September 2019
    Current term expires at the conclusion of the 2025 AGM

    External appointments:

    INED of New York-listed Ardmore Shipping Corporation

    Committee membership:

    Chairman of Sustainability Committee
    Nomination Committee

     
  • John M.M. Williamson
    Independent Non-executive Director
  • Alexandre F.A. Emery
    Independent Non-executive Director
  • Alexander H.Y.K. Cheung
    Non-executive Director
  • John M.M. Williamson

    Independent Non-executive Director


    Mr. Williamson served as independent non-executive director on the board of Hong Kong Exchanges and Clearing Limited for 13 years (2008-April 2021) where he acted as chairman of the board risk committee and a member of several board governance committees. He was chief executive officer at SAIL Advisors Limited (2011-2018); senior managing director (2012-2018), chief financial officer (2007-2018) and managing director (2007-2011) at Search Investment Group Limited; managing director and head of infrastructure & operational risk at Morgan Stanley Asia (1998-2007); chief operating officer at NatWest Securities Asia Holdings Limited (1994-1998); managing director at NatWest Investment Services, London (1992-1994); and INED of Nasdaq-listed Provident Acquisition Corp. (2021-2022).

    Education & qualifications:

    Heriot-Watt University: Bachelor of Arts degree
    Chartered Accountant & member of The Institute of Chartered Accountants of Scotland
    Fellow of the Chartered Institute for Securities and Investment, UK
    Senior Fellow of the Hong Kong Securities and Investment Institute
    Member of the Hong Kong Management Association

    Term of office:

    Appointed INED in November 2020
    Current term expires at the 2026 AGM

    External appointments:

    Non-executive chairman of UK Tote Group Limited
    Chairman and non-executive director of London Metal Exchange

    Committee membership:

    Chairman of Audit Committee

    Alexandre F.A. Emery

    Independent Non-executive Director


    Mr. Emery was partner and chairman, Asia at Permira, a global private equity investment firm with over US$82 billion under management. He joined Permira’s London office in 2002 and moved to Tokyo to establish its first Asian presence in 2005, which he led until he retired in December 2023. He focused primarily on industrials, consumer goods, financial services, healthcare and technology investments in Asia, China, Korea, and Japan.  Prior to joining Permira, Mr. Emery was an engagement manager at McKinsey & Company in London from 1997 to 2002 and a business analyst at Braxton Associates in London from 1993 to 1995. Mr. Emery began his professional career at the French Ministry of Foreign Affairs as part of the French Trade Office, posted to Osaka, Japan from 1991 to 1992.

    Education & qualifications:

    Yale University: Bachelor of Political Science and East Asian Studies degree
    College of Europe: Master’s degree in European Politics
    Northwestern University: Master’s degree in Business Administration

    Term of office:

    Appointed INED in January 2024 for 3 years

    External appointments:

    None

    Committee membership:

    Audit and Remuneration Committees

    Alexander H.Y.K. Cheung

    Non-executive Director


    Mr. Cheung commenced his legal career in 1994 with Linklaters in London, before moving to their Hong Kong office in 1999 where he specialised in corporate finance, Hong Kong Stock Exchange listings, regulatory matters and mergers and acquisitions. In 2005, he joined the Hong Kong law firm, Vincent T. K. Cheung, Yap & Co. as a partner and the head of the firm’s Central branch. He advises numerous clients on a broad range of corporate, commercial, capital markets, regulatory and employment matters. He is also well versed in governance and compliance matters.

    Education & qualifications:

    King’s College London: LLB Hons Degree
    Qualified as a solicitor in England and Wales and in Hong Kong.

    Term of office:

    Appointed as Non-executive Director in January 2022 for 3 years

    External appointments:

    None

    Committee membership:

    Audit and Remuneration Committees

  • Mats H. Berglund
    Non-executive Director
  • Mats H. Berglund

    Non-executive Director


    Mr. Berglund served with Swedish conglomerate Stena group from 1986 to 2005, occupying managerial and leadership positions in various Stena group shipping businesses in Sweden and the USA including group controller of Stena Line, vice president and chief financial officer of both Concordia Maritime and StenTex (a Stena Texaco joint venture), president of StenTex, and vice president and president of Stena Rederi AB (Stena’s parent company for all shipping activities). From 2005 to 2011, he was senior vice president and head of Crude Transportation for New York-listed Overseas Shipholding Group Inc. Between March 2011 and May 2012, he served as chief financial officer and chief operating officer at Chemoil Energy Limited, a Singapore-listed global trader of marine fuel products. He acted as the Chief Executive Officer and Executive Director of Pacific Basin from 2012 to July 2021.

    Education & qualifications:

    Gothenburg University Business School: an Economist (Civilekonom) degree
    Advanced Management Program at Harvard Business School in 2000

    Term of office:

    Appointed Non-executive Director in January 2024 for 3 years

    External appointments:

    Independent director of New York-listed Ardmore Shipping Corporation, Northern Marine Group and Toronto-listed Algoma Central Corporation

    Committee membership:

    Nomination and Sustainability Committees

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