Frontline Ltd. announced that Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS, has decided to step down from his position. The Board has appointed Lars H. Barstad, Frontline’s Commercial Director, to take the role as Interim Chief Executive Officer of Frontline Management AS. With his solid background within the industry and his profound understanding of the Company and its organization the board is confident that this new appointment will ensure a successful and seamless transition of the role. Mr. Macleod will be available for the company till April 30th, 2021.

“I would like to thank Robert for his contribution to Frontline. He has led the Company through a period of significant fleet growth and renewal,” said John Fredriksen, Chairman of Frontline. I wish Robert continued success in his future endeavors.”

“I have thoroughly enjoyed the last six years at Frontline, working with a great team through often volatile market conditions,” said Mr. Macleod. “The organization is best-in-class, and Frontline’s scale and presence in the tanker industry is unrivaled. I am grateful to the Board of Directors for the opportunity to lead the Company over the last six years and would like to express my sincere gratitude to my friends and colleagues who have contributed to Frontline’s success during my tenure.”

“I am grateful that the board has given me the trust to take the role as Interim CEO of Frontline after having served with the company for five years in various positions. It is exciting times ahead in the tanker market in which I will do my utmost to make sure that Frontline continue building shareholders value” said Lars H. Barstad.