London-listed shipbroker Braemar is lining up a leadership change, with group chief executive James Gundy set to step down at the company’s annual general meeting on 2 July 2026.
Gundy will also leave the board at that point but will remain with the business, returning his focus to shipbroking.
The board has selected Grant Foley, currently group chief financial and operating officer, to take over as group CEO.
Foley joined Braemar in August 2023 as chief financial officer, bringing experience from senior finance and operational roles across public and private sectors. He was later promoted to CFOO and has worked closely with Gundy on reshaping the business. The pair will work together over the coming months to ensure a smooth handover.
A search for a new CFO is under way, with the company saying an announcement will follow in due course.
Gundy has led Braemar for five years, a period that saw the broker dispose of non-core units, cut debt and refocus on its core shipbroking activities. The company said it is trading in line with market expectations and expects to update the market on full-year trading towards the end of March 2026.
Chairman Nigel Payne said Gundy had reshaped the group into a more diversified and resilient broking house and welcomed his decision to stay on to serve clients.
The board is backing Foley to deliver on its stated target of £200m in revenues by the 2030 financial year, as Braemar looks to build on recent momentum in its core markets.
For Gundy, the move marks a return to the front line of broking. For Foley, it is a step up at a time when competition among shipbrokers is intensifying and scale, sector spread and balance sheet strength are increasingly in focus.
