Global Ship Lease Expands Its Board of Directors with Appointment of an Additional Director
September 21 2017 - 4:15PM
Global Ship Lease, Inc. (NYSE:GSL) (the “Company”) announced today
the appointment of Philippe Lemonnier to the Company’s Board of
Directors, increasing the Board to seven members. Mr. Lemonnier was
appointed by the existing Board of Directors following his
nomination by the Company’s largest shareholder, CMA CGM.
Mr. Lemonnier currently serves as CMA CGM’s Vice President of
Finance Transformation, Cost Efficiency and Transversal Projects,
having joined the company in 2005. He has more than 30 years of
experience in finance and accounting, and has served in senior
leadership roles across multiple industries, including as the Chief
Financial Officer of two French telecommunications companies.
Michael Gross, Chairman of the Board of Global Ship Lease,
commented, “We welcome the appointment of Philippe Lemonnier to our
Board of Directors. As a senior executive at CMA CGM, our largest
shareholder, our principal charterer and the world’s third largest
liner company, we expect that Philippe’s expertise and guidance
will be of great service to GSL at a time when the industry is
poised for recovery.”
About Global Ship Lease
Global Ship Lease is a containership charter
owner. Incorporated in the Marshall Islands, Global Ship Lease
commenced operations in December 2007 with a business of owning and
chartering out containerships under mainly long-term, fixed-rate
charters to top tier container liner companies.
Global Ship Lease owns 18 vessels with a total
capacity of 82,312 TEU and an average age, weighted by TEU
capacity, at August 31, 2017 of 12.7 years. All 18 vessels are
currently fixed on time charters, 15 of which are with CMA CGM. The
average remaining term of the charters at August 31, 2017 is 3.1
years or 3.3 years on a weighted basis, taking into account the two
charter extensions announced on September 11, 2017.
Safe Harbor Statement
This press release contains forward-looking
statements. Forward-looking statements provide the Company's
current expectations or forecasts of future events. Forward-looking
statements include statements about the Company's expectations,
beliefs, plans, objectives, intentions, assumptions and other
statements that are not historical facts. Words or phrases such as
"anticipate," "believe," "continue," "estimate," "expect,"
"intend," "may," "ongoing," "plan," "potential," "predict,"
"project," "will" or similar words or phrases, or the negatives of
those words or phrases, may identify forward-looking statements,
but the absence of these words does not necessarily mean that a
statement is not forward-looking. These forward-looking statements
are based on assumptions that may be incorrect, and the Company
cannot assure you that the events or expectations included in these
forward-looking statements will come to pass. Actual results could
differ materially from those expressed or implied by the
forward-looking statements as a result of various factors,
including the factors described in "Risk Factors" in the Company's
Annual Report on Form 20-F and the factors and risks the Company
describes in subsequent reports filed from time to time with the
U.S. Securities and Exchange Commission. Accordingly, you should
not unduly rely on these forward-looking statements, which speak
only as of the date of this press release. The Company undertakes
no obligation to publicly revise any forward-looking statement to
reflect circumstances or events after the date of this press
release or to reflect the occurrence of unanticipated events.
Investor and Media Contact:The IGB GroupBryan
Degnan646-673-9701orLeon Berman212-477-8438
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