The board of directors of Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has appointed executive chairman Øystein Kalleklev as chief executive officer.

As a result, Mr Kalleklev will step down as executive chairman and rather participate as a regular board member going forward.

He is nominated as an ordinary board member for the annual general meeting to be held in Bermuda on May 8.

Avance Gas said its management will thus consist of Mr Kalleklev as CEO, Randi Navdal Bekkelund as CFO and Marius Foss as CCO.

The company said the change in roles will have no effect for Flex LNG Ltd where Mr Kalleklev will also continue to serve as CEO.