Why Dry Bulk Shipping Company Golden Ocean Shares Are Rising Today

Golden Ocean Group Ltd GOGL shares are trading higher after it appointed a new Chief Executive Officer (CEO).

The company appointed Lars-Christian Svensen as the CEO, effective January 1, 2024.

Svensen held the role as the Interim Chief Executive Officer of Golden Ocean Management AS. Prior to that, he held the role as Golden Ocean's Chief Commercial Officer.

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Ola Lorentzon, Chairman of the Board, says: "The Board is delighted to have appointed Lars-Christian Svensen, who has demonstrated his abilities serving as Interim CEO. We are confident Lars-Christian will be successful in his work, building shareholder value for Golden Ocean." 

In June, the former CEO Ulrik Andersen disclosed his decision to resign from the post.

In November, the company reported Q3 FY23 EPS of $0.14, which exceeded the consensus of $0.11. 

Price Action: GOGL shares are up 1.64% at $9.94 premarket on the last check Tuesday.