Gunvor gets new finance chief

Geneva-based energy and LNG trader Gunvor said it has appointed Jeff Webster as its new chief financial officer.

Gunvor said in a statement on Tuesday its current finance chief Muriel Schwab has decided to pursue new opportunities outside of the company and would stay for period of transition before leaving.

New CFO Webster will be based in Geneva, Switzerland, and will serve on the executive committee.

According to the statement, he has more than 20 years of experience in the banking and trading sectors, most recently serving as group treasurer at commodity trader Mercuria since 2018.

“We welcome Jeff to lead Gunvor’s global financial strategy as our company continues to expand into new trading areas, including into energy transition opportunities,” said Torbjörn Törnqvist, chairman and CEO of Gunvor.

Gunvor’s net profit surged last year to $726 million, boosted by higher earnings in its natural gas and LNG divisions.

The firm traded 240 million tonnes of crude oil, natural gas, LNG, and other commodities last year. This compares to 191 million tonnes in the year before.

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