Greek Tycoon George Economou Strikes Again With 5.4% Genco stake

Greek shipping businessman George Economou has nominated two candidates for election to the Genco board of directors at the 2024 annual meeting of Genco’s Shareholders.

Economou, who has taken recently via his affiliate GK Investor a 5.4% stake in Genco Shipping & Trading, a U.S. headquartered dry bulk shipowner, nominates two candidates for Genco board, Randee Day and Robert M. Pons.

It is another company since the summer to draw the Greek shipping magnate’s interest.

George Economou turns his attention to Genco after the recent move he made on compatriot shipowner Seanergy Maritime to buy shares.

Economou has now proposed two experienced candidates for the Genco board of directors.

Randee Day, president and CEO of maritime consulting and advisory group Day & Partners, has 35 years of experience in corporate governance, restructuring, M&A and maritime finance, and is currently a director of International Seaways and Eagle Bulk Shipping.

Ms. Day, is a former interim CEO of DHT Maritime and managing director at the Seabury Group.

Previously, she served on the boards of Tidewater, an offshore platform vessel operator, as well as Guardian Navigation (formerly Valhalla Shipping), a shipping company specializing in the transshipment of dry cargo.

On the other hand Robert M. Pons, is a president and CEO of Spartan Advisors, a management consulting firm specializing in telecom and technology companies.

Pons has served on the boards of directors of 16 publicly traded companies, and has more than 40 years of hands-on operating experience as a CEO and in senior executive positions.

He is currently a director of Marpai and has previously served as Executive Chairman of Seachange International, as well as a director at CCUR Holdings, Alaska Communications and Inseego Corp., among others.

He was previously executive vice president of PTGi-ICS, a wholly owned subsidiary of HC2 Holdings, a publicly traded holding company operating subsidiaries in infrastructure, telecom, construction, energy technology, gaming and life science.

Previously, he was senior Vice President, Capital Markets, at TMNG Global, a global consulting firm to technology, media, communications and financial services companies. He also served in senior management roles at technology companies including Uphonia and FreedomPay.

Greek businessman George Economou, stated, “As a significant Genco shareholder, I strongly believe in the company’s potential to deliver improved value for shareholders. Both Randee and Robert have highly relevant backgrounds that would, in my view, be additive in the boardroom and would help address Genco’s lagging performance.”

“I believe the entire board would benefit from their fresh perspectives and collective knowledge of the maritime and technology sectors and experience in finance, corporate strategy and governance. I look forward to engaging with the company and fellow shareholders regarding the addition of these highly-qualified nominees to the board,” Economou added.