Gulf Navigation’s board sees mass exodus

The chairman of Gulf Navigation’s board and six of its members have resigned from their positions, just under a month after the company named Parag Jain as its new CEO.

Dr Hazza Al Qahtani, the board’s chairman, has left his position as of today, as have board members Hakeem Al Otaibi; Nasser Al Kahtani, Captain Faisal Al Qahtani, Dr Sandeep Kadwe, Dr Majed Al Shamroukh and Abdulla Alharthy.

The Dubai-based tanker company gave no explanation for the exodus in its exchange filing today.

Jain had been Gulf Navigation’s acting CEO since May 2015, and has worked for the company since 2010.