STAMFORD, Conn., Sept. 29, 2016 /PRNewswire/ -- Eagle Bulk
Shipping Inc. (Nasdaq: EGLE) (the "Company" or "Eagle Bulk") today
announced that Frank De Costanzo
will join the Company as Chief Financial Officer and Secretary,
effective September 30th. Mr. De Costanzo brings more than 30
years of banking, finance, public company and related
leadership experience, with a focus on commodity and related
markets. This includes serving most recently as Senior Vice
President and Chief Financial Officer of the Catalyst Paper
Corporation (TSX: CYT), one of North
America's largest pulp and paper companies. Mr. De
Costanzo also previously served as Vice President and Global
Treasurer at Kinross Gold Corporation, one of the world's largest
gold mining companies.
Mr. De Costanzo succeeds Adir
Katzav who, with Eagle Bulk's recent relocation to
Stamford, CT, has decided to step
down to pursue other professional opportunities.
Gary Vogel, Eagle Bulk's CEO,
commented, "Frank's addition to Eagle Bulk reinforces our
commitment to attracting the best and brightest in pursuit of above
market results and positioning Eagle Bulk as the world's premier
Drybulk Supramax owner/operator. It is a tribute to our
progress and potential in this regard that someone of Frank's
qualifications has joined the Company in this leadership
capacity. We look forward to benefiting from his financial
acumen and organizational leadership skills as we execute on our
strategic plans."
Mr. Vogel added "On behalf of the entire Eagle Bulk
organization, I want to thank Adir for his tireless commitment and
many contributions over the years. We wish him nothing but the best
as he continues his career."
Mr. De Costanzo added, "With recent developments, I believe that
Eagle Bulk now possesses the balance sheet strength and financial
flexibility to take advantage of opportunities in the dry bulk
market. I am excited to commence work and contribute to the
Company's success in the years to come."
Earlier in his career, Mr. De Costanzo served in positions of
increasing responsibility at Pitney Bowes Inc., including Assistant
Treasurer, Director of Internal Audit and Finance Director,
International, for Pitney Bowes Software. He also worked at
The Dai-Ichi Kangyo Bank (now part of the Mizuho Financial Group)
and Union Bank of Switzerland. He
earned a B.S. in Finance from Providence
College and an Executive MBA from The University of Connecticut.
About Eagle Bulk Shipping
Eagle Bulk Shipping
Inc. is a Marshall Islands
corporation headquartered in Stamford,
Connecticut. We own one of the largest fleets of Supramax
dry bulk vessels in the world. Supramax dry bulk are vessels which
are constructed with on-board cranes, ranging in size from
approximately 50,000 to 65,000 dwt and are considered a
sub-category of the Handymax segment, typically defined as
40,000-65,000 dwt. We transport a broad range of major and minor
bulk cargoes, including but not limited to coal, grain, ore, pet
coke, cement and fertilizer, along worldwide shipping routes.
Forward-Looking Statements
Matters discussed in
this release may constitute forward-looking statements.
Forward-looking statements reflect management's current
expectations and observations with respect to future events and
financial performance. Where the Company expresses an expectation
or belief as to future events or results, such expectation or
belief is expressed in good faith and believed to have a reasonable
basis. However, the Company's forward-looking statements are
subject to risks, uncertainties, and other factors, which could
cause actual results to differ materially from future results
expressed, projected, or implied by those forward-looking
statements. The Company's actual results may differ
materially from those anticipated in these forward-looking
statements as a result of certain factors, including changes in the
Company's financial resources and operational capabilities and as a
result of certain other factors listed from time to time in the
Company's filings with the U.S. Securities and Exchange
Commission. The Company disclaims any intent or obligation to
update publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be
required under applicable securities laws.
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SOURCE Eagle Bulk Shipping Inc.