Braemar has confirmed a significant leadership transition with the announcement that James Gundy will step down from his role as Group CEO and from the board of directors at the next Annual General Meeting. Gundy, who has been in the position for five years, will continue with the company, focusing on shipbroking activities. His tenure has been marked by strategic de-investments in non-core areas, reducing debt, and enhancing the company's resilience.

Grant Foley, who joined Braemar in August 2023 as Chief Financial Officer and later became Chief Financial and Operating Officer, has been named as Gundy's successor. Foley's contributions to the company have reportedly played a vital role in its growth, and he possesses a wealth of experience that will be crucial for the company's future objectives. The non-executive chairman, Nigel Payne, expressed gratitude for Gundy’s leadership and highlighted the importance of Foley’s extensive background in steering the company towards generating £200 million in revenue by 2030.

This transition comes at a pivotal time as Braemar looks to solidify its market position and reach ambitious financial targets. The change not only indicates a shift in leadership but also reflects the company’s commitment to adapting and evolving within the competitive maritime industry, with a clear focus on strategic growth and resilience under Grant Foley’s leadership.