On Tuesday, Genco Shipping & Trading Ltd. (GNK) made an announcement that their Board had unanimously rejected the suggested nomination of two candidates. The candidates, put forward by investor George Economou via GK Investor LLC, were being considered for inclusion on the Board at the company's 2024 Annual Meeting of Shareholders.
The decision came after the company's Nominating and Corporate Governance Committee carried out a comprehensive examination process. The Board concluded that the two nominees - Randee Day and Robert Pons - lacked sufficient expertise in the shipping and related sectors to competently serve either the company or its stakeholders.
In related news, the firm also declared the immediate appointment of Paramita Das to its Board of Directors in a separate press release.
