Fleet Management Limited, part of The Caravel Group, has appointed Captain Rajalingam Subramaniam as its new Chief Executive Officer. Captain Subramaniam will take over from Dr. Kishore Rajvanshy, who is stepping down after three decades at the helm of the global ship management company. Captain Subramaniam joins the company on 21 October 2024 as “CEO Elect” and will officially assume the role on 1 January 2025. He will report to Dr. Harry S. Banga, Chairman and CEO of The Caravel Group.
Dr. Rajvanshy, who has served as Managing Director since Fleet Management’s inception, will transition to a senior advisory role as “Managing Director Emeritus” and remain as a Non-Executive Director. Under his leadership, Fleet Management has grown to become the world’s second-largest third-party ship management company, a significant achievement in the maritime sector.
Dr. Rajvanshy’s successor, Captain Subramaniam, brings a wealth of experience to his new role. A former President and Group CEO of the MISC Group, he has earned a reputation as a skilled leader within the shipping industry. As a Master Mariner, Captain Subramaniam has first-hand knowledge of life at sea, coupled with a strong business acumen developed through his leadership roles in shipping and offshore operations.
Captain Subramaniam guided the MISC Group through a period of economic uncertainty and increasing environmental regulations, solidifying its standing in the global market. His ability to foster innovation and growth while addressing complex industry challenges made him an ideal candidate for the leadership of Fleet Management.
Dr. Harry S. Banga praised Captain Subramaniam’s appointment, stating: “Captain Subramaniam’s exceptional track record and visionary leadership make him the perfect choice to lead Fleet Management into the future. We are confident that his strategic insights will reinforce our commitment to maritime excellence.”
Dr. Banga also paid tribute to Dr. Rajvanshy’s contributions: “Dr. Rajvanshy’s leadership has been fundamental to our success. His commitment to excellence and his vision have shaped Fleet Management into the industry leader it is today. We are deeply grateful for his service and the legacy he leaves behind.”
Reflecting on his 30 years with Fleet, Dr. Rajvanshy expressed gratitude to his colleagues and partners: “It has been an extraordinary journey to witness Fleet’s growth and achievements. I am deeply thankful for the talented team and partners who supported us. Captain Subramaniam is well-placed to lead the company into its next chapter.”
In response to his appointment, Captain Subramaniam said: “I am honoured to join Fleet Management and work with a team renowned for its dedication to excellence. I extend my thanks to the founding family for their trust in me. Together, we will continue to innovate and uphold the high standards set by Dr. Rajvanshy and the Banga family.”
Fleet Management aims to ensure a smooth transition as it continues to lead in maritime innovation and service. The company has expressed its deep appreciation to Dr. Rajvanshy for his remarkable contributions over the past three decades.