The American P&I Club has announced that CEO of Shipowners Claims Bureau, Inc. (SCB), Joe Hughes will be standing down from the role on August 1 2022, after 27 years of service, to be replaced by Dorothea Ioannou, who will become the first woman to ascend to the top executive position of an International Group P&I club in its 167 year history.
Ioannou currently serves as the Deputy Chief Operating Officer for SCB.
She joined the company in 2005, having previously worked in legal practice and insurance broking.
Throughout her time with SCB, Ioannou has served in various roles, such as office General Manager, Regional Business Development Director and Global Director of Business Development for the American Club. In 2018, she relocated to the company’s head office in New York, where she was appointed as the Deputy COO.
In a press release, The American P&I Club said Ioannou’s elevation to CEO “has been preceded by growing executive responsibilities over several years”.
Meanwhile, the company announced some other major moves within its management positions.
Vince Solarino will be stepping down as Chief Operating Officer for SCB, Inc. after a similar length of service to that of Hughes. Dan Tadros, who currently serves as Chief Legal and Compliance Officer for SCB will be taking over the role of COO from Solarino.
In addition the company also said that Arpad Kadi will continue to discharge his duties as Chief Financial Officer, and Tom Hamilton will continue in his role as Chief Underwriting Officer.
These changes were announced at a recent meeting of the American Club’s Board of Directors. During the meeting, it was explained that Hughes and Solarino would remain, respectively as Chairman and President of SCB to focus on “the transitioning of their day-to-day operational roles to their senior colleagues”, which will be led by Ioannou in concert with Tadros, Kadi and Hamilton, and supported by SCB’s service teams throughout the world.
Incoming, CEO Ms. Ioannou said: “I am thrilled and excited with this new appointment, which as a woman carries with it not only responsibility and significance for our organization, but also, as a first in the P&I sector, for the marine insurance industry in general. I have from the start been proud of working with SCB, the American Club and EOM and the team of talented professionals across the world with whom I have spent the last 17 years. I have been particularly privileged by the mentorship of Joe and Vince and I look forward to building on the achievements of the past to generate yet further success in the future.”
Speaking in New York on the announcement of this news, Joe Hughes said: “The last 27 years have been the most consequential of my professional life. The outlook of the American Club was, by common consent, not entirely promising in 1995, but it has enjoyed extraordinary growth and development since then.
“My colleagues and I take pride in the collective efforts which, over the years, have brought us to where we are today – marine insurers commanding universal respect within the industry. Most importantly, I have every confidence that Dorothea, as the first female CEO of a Group club management company, and Dan, together with Arpad and Tom, with the support of everyone in our service teams across the world, will take the Club and EOM to yet greater success over the years ahead.”
Vince Solarino also added: “I entirely endorse Joe’s remarks. We have confronted many challenges over the last 25 years or so but, with the support of our professional colleagues, our members, their brokers, the Club’s Board and our many other friends across the globe, we have been able to expand and diversify our operations to achieve the highly regarded position we enjoy within the maritime community today.
“We extend our congratulations to Dorothea and Dan, who we are confident will continue the Club’s mission with the same enthusiasm and success. Joe and I remain committed to supporting our excellent global teams who have become both our family and our legacy. We are stepping aside, not stepping out!”
Incoming COO, Dan Tadros, also commented: “The recent years during which I have had the privilege of serving SCB, the American Club and EOM have been enriching, not to mention educational, quite nicely dovetailing my time as a maritime lawyer. I am excited about and look forward to assuming my new responsibilities as SCB’s COO over the months ahead, and to working with my exceptional colleagues across the world in developing future success together.”
