The board of Bermuda-based Frontline Ltd, the oil tanker shipping company, has appointed Lars Barstad as chief executive officer of Frontline Management AS.

The appointment is effective September 1.

The company said Mr Barstad currently serves as the interim chief executive officer of Frontline Management AS.

Prior to that he was Frontline’s commercial director and has previously worked as a trader with Noble Group Ltd and Glencore Ltd in London, as well as serving as director of Imarex Pte Ltd in Singapore.

Ola Lorentzon, chairman of the board, said: “The board is delighted to have appointed Lars H Barstad, who has demonstrated his abilities serving as interim CEO. We are confident Lars will be successful in his work, building shareholder value for Frontline.”

Mr Barstad said: “I am very grateful for the acknowledgement from the board and to be appointed CEO of Frontline. I look forward to continue my work with this great team in positioning the company for what I believe is very exciting years ahead for the tanker industry in general, and for Frontline in particular.”