One of Asia’s most flamboyant shipowners has decided to call it a day as ceo. As Taiwan’s massively in-debt TMT undergoes huge restructuring, its founder and ceo Nobu Su has shifted from ceo to executive chairman.

AlixPartners has been appointed to restructure TMT, and is poised to finalise its restructuring by the end of next month.

Su’s financial troubles have seen him hit with many court cases, one of which, in the UK, saw the tycoon, who failed to show, receive an 18-month jail sentence.

Su said in a statement: “In today’s dynamic marketplace, I want to ensure that we have the best executive team to secure the future of TMT’s core business.

“As well as the appointment of a new [chief executive officer], the company plans to bring in other expertise, particularly in the energy field, which is a new and important growth area for the company.”

Source from Sino Ship News