Ardmore Shipping Corporation announced that founder Anthony Gurnee has informed the board of directors (the board) of his intention to retire from his executive and board positions later 2024. Following a comprehensive selection process, the Board of Directors has expanded current CFO Bart Kelleher's position to take on the additional role of President, with the leadership transition to take effect from September 16, 2024 at the company's upcoming quarterly board meeting. This transition represents the culmination of leadership succession planning that has been long-established and extensively discussed at the board and management levels.

Following his retirement from the company, current CEO Anthony Gurnee will remain available to Ardmore as an advisor during the transition period. In connection with their promotions, both Ruppelt and Kelleher will be joining the board of directors of the company. Ruppelt will maintain responsibility for Ardmore's commercial platform until such time as a successor is selected.

Kelleher will maintain his role as the company's CFO until such time as the Board of Directors appoints a successor, after which Finance and Accounting will remain among his responsibilities. Bart Kelleher serves as Chief Financial Officer at Ardmore, having joined in 2022. Mr. Kelleher has over 25 years of progressive experience in the maritime, finance, and industrials sectors.

Prior to joining Ardmore, he served as CEO at stainless-steel chemical tanker company Chembulk Tankers, as well as COO at Suezmax crude carrier company Principal Maritime. Earlier, Mr. Kelleher held roles in banking and equity research in the maritime and energy-related industries at Bear Stearns and HSH Nordbank. He also held management positions in both the cruise industry and at a naval architecture firm, as well as serving as a deck officer onboard US-flag crude oil tankers.

He holds an MBA from Columbia Business School, an MS in Ocean Systems Management from MIT, and a BE in Naval Architecture from NY Maritime College. He has also completed INSEAD's International Directors Program. Mr. Kelleher serves as a Director of methanol-to-hydrogen technology developer Element 1 Corporation, and as an advisory board member to OrbitMI.