Российско-американская компания
Wrangel was promoted to rear admiral in 1837, and made director of the ship-timber department in the navy office, which he held for twelve years. He became vice-admiral in 1847, but resigned in 1849, and temporarily severed his connection with the navy to assume the presidency of the newly reorganized Russian-American Company. Wrangel had been a member of the board of directors of the Russian-American Company from 1840 to 1849.