Genco Shipping reviewing director nominations made by George Economou

The company stated, “Our Board consists of active and engaged directors that are open-minded with respect to value-creation opportunities. Our highly-qualified directors bring complementary skills, experience and industry expertise in areas relevant to our business, including shipping, fleet management, commercial and technical management, as well as capital allocation management, financial reporting and M&A. The Board is of course reviewing the director nominations recently made by George Economou through his entity GK Investor LLC. Our Board is committed to strong corporate governance and will consider these nominations as a part of its normal review process. It will make its formal recommendation in due course and will continue to take actions that are in the best interests of the Company and all of its shareholders. We believe Genco’s future is bright. We’re executing a clear plan that is delivering solid results today, providing us flexibility to drive returns through the volatility and cyclicality inherent in the business and positioning us to capitalize on market opportunities going forward. Looking ahead, we remain committed to maintaining our strong governance and taking actions that we believe will create the most value for shareholders.”