Oslo-listed Hunter Group has appointed Erik Mathiesen as interim chief executive, stepping in as the company prepares for a strategic shift tied to the expiry of its current charter exposure.

Mathiesen’s mandate runs through to October 31 2026, following the board’s earlier decision that Erik Frydendal would step down from the top role as the business moves into a new phase.

The company operates a lean tanker-focused setup, currently chartering in two VLCCs on fixed rates while earning spot-linked returns on charter-out contracts — a structure that has delivered strong cash generation in recent months but is set to unwind as vessels are redelivered.

During the interim period, Mathiesen is expected to oversee day-to-day operations while working alongside the board to define the company’s next step once its existing contracts run off.

The company noted that the focus would be on transitioning toward a more sustainable long-term business model, signalling that a broader strategic reset is under consideration.

Mathiesen brings experience from energy, transport and finance, including roles spanning mergers and acquisitions and fund management, as well as leading companies through restructuring phases. The board indicated his background was suited to guiding Hunter through a period of change.

The leadership reshuffle follows earlier management moves. Chief financial officer Lars Brynildsrud stepped down last year, with Frydendal taking on the finance role alongside his CEO duties on an interim basis.

Alongside the CEO appointment, Hunter also moved to formalise its finance function, entering into a management services agreement to cover CFO and administrative responsibilities as part of the ongoing transition. The arrangement, effective from late April, is based on a fixed monthly fee structure and is linked to services provided by a company associated with chairman Morten Astrup, the company disclosed.