On May 14, Paul Pathy, President and CEO of Montreal-based Fednav Limited, will become the first Canadian shipping figure to assume the helm of the Denmark-based Baltic International and Maritime Council, more widely known as BIMCO, whose 2,000 members in 130 countries cover 64% of world shipping tonnage. He succeeds outgoing President Nikolaus Schües who has completed a two-year term.
Maritime Magazine is pleased to publish the text of a profile recently produced by BIMCO which offers both professional and personal insights on Paul Pathy:
Paul Pathy is not a man to pass up a good challenge. A former NCAA decathlete, he has twice climbed to 8000m, and this year will be swimming from Alcatraz to San Francisco. He is the third generation of CEO in the family business, Canada’s largest dry bulk shipowner.
Had he not been CEO of Fednav, he might well have chosen a more physical, out of doors career path in law enforcement, the military or the sports industry. However, his shipping career began in his teens when he worked summer jobs on the Montreal docks where the St. Lawrence River connects the Great Lakes to the Atlantic Ocean.
Pathy holds a bachelor’s degree in psychology from Emory University in Atlanta and a law degree (JD) and Master of international management (MIM), both from the University of Denver in Colorado. Before returning home to Montreal to begin his Fednav career, Pathy worked in private equity in Kansas City, Missouri, followed by a tech startup in Atlanta, Georgia.
“My father was careful not to pressure us to come into the family business. He would tell me to give it two or three years to try it out, and if you don’t like it, then go do your own thing with my blessing.”
“I was working in the legal and business side of tech in Atlanta in 2001 and 2002 when the tech crash hit and the company I was working with was going down the tubes. Coincidentally, my father called about that time with an opening in Fednav’s terminal division (FMT) and it seemed like a good time to give it a try.”
Goals and challenges
And so, he did. Pathy joined the family business in 2003 as Vice-President and General Manager of Federal Marine Terminals, the group’s terminal and logistics business which was in the midst of a leadership transition. He became Senior Vice-President of the Business Development Group in 2007 and was promoted to Co-CEO with his brother, Mark Pathy when their father, Laurence Pathy, officially retired in 2010. In 2016, it was decided as a family that Paul would take the role as sole CEO while Mark left to pursue other endeavours.
“My father and brother both effectively left in late 2016 and I took over as the sole CEO of the company in 2017. I think it’s enormously helpful to have worked in other fields and other places. The downside, of course, is that I came in when I was in my 30s and did not learn everything from the ground up,” he says, adding:
“At Fednav, we get trainees coming in when they are 21 or 22 years old, and we really teach them the absolute basics as you’d expect. Since I joined in a management capacity two thirds of the way up the chain, I had a lot to learn about the nuances of the industry. I knew the financial side and the advanced management material, but not the beginner level basics, so I asked a lot of questions in my first couple of years. I still ask a lot of questions actually.”
As a CEO, as well as in private, Pathy is always focused on setting goals and seeking challenges.
“I regularly speak to our company about the importance of setting goals and achieving things, regardless of whether you are the intern in the mail room or the EVP. Whether it is at work, climbing mountains, learning a second language or playing the piano, just set a target and go after it. Whatever you are doing, whatever your interests are, achievements are reached when you set goals and try to push yourself to be uncomfortable.”
“I’m trying to take the business in a specific direction, and I want to grow it in a certain way. And personally, I try to keep learning and testing my limits physically and creatively – if I want to succeed, I need to set a course for the business, for myself, and as a family. As the saying goes – if you don’t know where you are going, you will never get there.”
Since 2023, Pathy has climbed a series of mountains including Aconcagua in Argentina, Manaslu in Nepal – which is the eighth highest mountain in the world – and in May 2024 spent 30 days on Mount Everest before turning around in bad weather during the push to the summit. For this year, he is heading to the cold, swirling waters of San Francisco Bay to test himself.
“Why try a tough swim? I think for the same reason I have attempted these mountains – because I am not sure if I can do it.”
Family first
Married with two children, Pathy lives in his native Montreal and spends significant time traveling internationally, both in support of the business and with family.
“We take a lot of family trips, spending quality time together and doing fun adventurous activities. When the kids are out of school, we prioritise time with the family. But generally, whenever I’m taking time off for myself, it’s always something physical, a sport or activity that requires focus and intensity. It helps me clear my mind so that I can be my best at home and at the office. I am always up for something new.”
“I am honoured to have the opportunity to represent our industry and take on the leadership of such a historic organisation. I really see this as my next big challenge, and I am ready to take it on at full speed.”
(Photo of Paul Pathy from Fednav)