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16 March 2023

NICOSIA – Gunvor Group Ltd (“Gunvor” or the “Company”), one of the largest energy commodities trading companies in the world, has updated the composition of its Board of Directors, effective 1 March 2023. Ms. Vasiliki Papalli, who has been with Gunvor since 2013 and serves as Group Administration Director, will replace Mr. Jerome Gonelle, who has retired his position. Ms. Papalli’s role on the Board will include representing minority shareholders of the Gunvor Employee Shareplan. The size of the Board will also increase to seven seats with the addition of Fredrik Törnqvist, Gunvor’s Energy Transition Director and Head of Nyera, the Company’s renewables investments vehicle. These changes reflect the evolving nature of Gunvor’s global business and outlook. The Gunvor Group Ltd Board of Directors continues to comprise a majority of independent, professional non-executive directors.

  • Vasiliki Papalli, Group Administration Director: Ms. Papalli, joined Gunvor in October 2013, and has been handling the corporate restructuring and the companies setup in the various jurisdictions of the Group, as well as the overall management of the Nicosia headquarters office. She has more than 15 years of experience in the corporate secretarial sector. Ms. Papalli previously worked for PricewaterhouseCoopers from 2007-2013.
  • Fredrik Törnqvist, Energy Transition Director: Mr. Törnqvist serves as the Energy Transition Director at Gunvor Group, and Head of Nyera, the company’s renewables investment vehicle. He joined Gunvor in 2019 as a market analyst for Gunvor’s natural gas desk, one of the largest physical natural gas traders in Europe. He began his career at PricewaterhouseCoopers, where he provided financial audit and advisory services to some of the world’s largest public companies. He then joined investment advisory and asset management firm Whiteridge Advisors, where he was involved in a range of activities including Venture Capital, Private Equity, Business Development and Government Advisory.

The Gunvor Group Ltd Board of Directors now comprises:

  • Mr. Torbjörn Törnqvist, Chairman and CEO
  • Mr. Gerhard Auer, Director
  • Mr. Georgios Loizou, Director
  • Mr. Mats Nilsson, Director
  • Ms. Vasiliki Papalli, Director
  • Mr. Menelaos (Melinos) Pissourios, Director
  • Mr. Fredrik Törnqvist, Director