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Monday, December 18, 2017

INTERTANKO Annual General Meeting held in Singapore

INTERTANKO’s Annual General Meeting took place on 10th May 2012 following the Council Meeting. The Meeting approved both the Annual Report and Review 2011/12, and also the Financial Statements for 2011 (both are available as e-book downloads. Click here for the Annual Report and click here for the financial statements).

Joe Angelo reported that the Council unanimously approved the appointment of Kathi Stanzel to take over as Managing Director as of 1 July 2012. Joe Angelo highlighted that the major focus of the Council meeting had been the development of INTERTANKO’s Five Year Strategic Plan which builds on the Work Plans presented to the Council last year. The Five Year Strategic Plan focuses on seven main issues which will continue to be at the forefront of the Secretariat’s work in the next 3-5 years (see above article). He also highlighted a constructive and regular dialogue with OCIMF on key tanker issues.

The AGM approved an amendment to Article 7(9) (iv) of the Articles of Association to allow the term of office of any one Vice Chairman of the Executive Committee to be extended to a maximum of eight years. This had been proposed to give some flexibility to maintain continuity within the Executive Committee membership when Vice Chairmen are due to retire within a short period of each other. The proposal was approved and the full revised Article reads as follows:

Article 7 (9)

(i) The Council shall elect from among its members a Chairman and up to three Vice-Chairmen of INTERTANKO.

(ii) The Council shall also appoint a further number of its members who, together with the Chairman and Vice-Chairmen, shall form the Executive Committee, provided that the total number of members comprising the Executive Committee at any one time shall not exceed fifteen.

(iii) The Chairman, Vice-Chairmen and the other members of the Executive Committee shall normally be elected for a period of two years.

(iv) No elected member of the Executive Committee may hold office for a period of longer than six consecutive years at a time. However, a Council Member may be elected or remain Chairman irrespective of the number of years he/she has already held office in the Executive Committee. At any one time, one Vice-Chairman may also be elected or remain Vice-Chairman provided that he may not hold office for a period of longer than eight consecutive years at a time.

(vi) A member may be represented at an Executive Committee meeting by his personal Alternate, provided this Alternate is an elected Council Member.

The AGM approved Ernst & Young as the auditors for another year.

Contact: Michele White