Kaplan Steps Down from General Maritime's Board of Directors
Steve A. Kaplan of General Maritime Corporation stepped down from the Company's Board of Directors effective December 21, 2007.
Peter C. Georgiopoulos, Chairman, Chief Executive Officer and President, stated, "Steve has provided more than nine years of dedicated service to General Maritime and its predecessor companies. He has demonstrated an unwavering commitment to serving the interests of our shareholders during a time in which we significantly grew the Company and returned more than $1 billion to shareholders. On behalf of General Maritime, I would like to thank Steve for his valuable contributions and wish him the best in all future endeavors."
Mr. Kaplan commented, "I am proud to have served on General Maritime's Board of Directors for more than six and a half years. Since its inception, General Maritime has built a successful track record in creating value for its shareholders. With a sound balance sheet, high-quality fleet, experienced management team, independent Board and leading industry reputation, the Company is well positioned to deliver strong returns to shareholders as it has done in the past."
Following the departure of Mr. Kaplan, General Maritime will have a total of six Directors. The majority of the Company's Board remains independent with extensive experience in shipping, finance and the capital markets.