Foremost Group CEO Angela Chao tragically passed away in a car accident, the company announced on Monday. Angela Chao, who served as the chair and CEO of the New York-based dry bulk shipping company, was a highly respected and experienced shipping executive.
Angela Chao had a remarkable career, working her way up through various leadership positions at Foremost Group, the company founded by her father, Dr. James S.C. Chao, and her late mother, Ruth Mulan Chu Chao, in 1964. Prior to joining Foremost Group in 1996, she gained valuable experience in the mergers and acquisitions department of Smith Barney, now known as Morgan Stanley Smith Barney.
Her academic achievements were equally impressive, earning a bachelor’s degree in economics magna cum laude from Harvard College in just three years. She later attended Harvard Business School, where a case study she wrote on ‘Ocean Carriers’ remains a part of the required curriculum for first-year HBS students.
Foremost Group paid tribute to Angela Chao, describing her as a formidable executive and shipping industry leader, as well as a devoted daughter, sister, aunt, wife, and mother. The company highlighted her commitment to upholding the legacy of honor, integrity, and performance established by her father, emphasizing exceptional customer service, efficiency, and superior performance as the hallmarks of her leadership. She was also a passionate advocate for integrating environmentally sustainable practices into the company’s operations.
Recognized for her pioneering leadership, particularly for women in shipping, philanthropy, and the arts, Angela Chao’s impact extended beyond the maritime industry. She served as a Board Member of the American Bureau of Shipping Council and the Massachusetts Maritime Academy’s International Maritime Business Department Advisory Board.
Her passing elicited a heartfelt statement from her father, Dr. James S. C. Chao, who described Angela as a brilliant and visionary leader, beloved by her family and friends. He fondly recalled her precociousness and intellectual curiosity, which endeared her to everyone and propelled her to excel in all her endeavors.
