Leadership Shift at Fleet Management

Fleet Management Limited (FLEET), headquartered in Hong Kong, is on the lookout for a new managing director following the decision by co-founder Kishore Rajvanshy to relinquish his role after leading the company for over thirty years.

In this period of leadership transition, Angad Banga, the Chief Operating Officer of FLEET's parent entity, The Caravel Group, will share leadership responsibilities with Rajvanshy.

Rajvanshy will remain at the helm of the technical, seafarer personnel, quality, health, safety, and environmental departments. Meanwhile, Banga will take charge of the remaining divisions within the company.

Rajvanshy's journey with Fleet Management began in November 1994 when he was instrumental in its founding under the umbrella of Noble Group, before its later acquisition by the diversified conglomerate, The Caravel Group. Under his stewardship, FLEET has grown into one of the leading independent ship management firms worldwide, boasting a fleet of over 650 vessels of various types. The company's operations are supported by an impressive roster of more than 27,000 seafarers and approximately 1,100 shore-based staff across 27 offices in 13 countries.

Reflecting on the transition, Rajvanshy expressed his confidence in the company's continued success and its ability to maintain high industry standards. He stated, "As I prepare to pass the baton to the next generation, I am confident that the company’s future is bright and that it will continue to set industry standards for years to come. This is a landmark strategic move to mark our 30th anniversary year, to build on our rock-solid foundations and take the company to the next level."

Angad Banga, who is also the son of The Caravel Group's Chairman and CEO, Harry Banga, will steer the new management team. Currently holding significant positions within the maritime sector, including chairmanship at the Hong Kong Shipowners Association and a rotational chairmanship at the Asian Shipowners Association, Banga is set to continue the legacy of leadership and innovation.

Banga shared his enthusiasm for leading FLEET into the future, emphasizing the balance between honoring tradition and fostering innovation. Banga stated, “I am driven to build on the robust legacy established by my father, and Rajvanshy, in working with our colleagues, partners and investing in FLEET to meet our clients’ needs now and into the future.” He further stated “Our company stands at the intersection of tradition and innovation. Leading our extraordinary team is a privilege, and we stand poised to continue to lead safety standards, embrace innovation and pursue new opportunities to serve our clients and the broader industry.”