Pangaea Logistics Solutions Welcomes Eugene I. Davis to Board of Directors as New Class II Director

Pangaea Logistics Solutions Welcomes Eugene I. Davis to its Board of Directors

Pangaea Logistics Solutions Ltd., a prominent player in the maritime logistics sector, has announced the appointment of Eugene I. Davis to its Board of Directors as a Class II director effective immediately. This strategic move comes as the company seeks to enhance its governance and strengthen its operational strategies.

The Board has expressed confidence in Davis’s abilities, particularly his extensive experience of over 40 years, which includes advising various companies on shareholder value creation and corporate strategy. Davis is currently the Chairman and CEO of PIRINATE Consulting Group LLC, where he has built a reputation for guiding organizations in refining their strategies and driving value growth. He is also involved with other influential companies, serving as the Chairman of the Board of Directors and Audit Committee chair for WW International Inc., in addition to being a board member of Spirit Aviation Holdings Inc.

His appointment follows the resignation of Christina Tan, marking a significant transition within the Board. The company’s Chairman, Richard du Moulin, stated, "Gene brings a strong track record of helping boards and management teams refine strategy and drive value creation. His perspective aligns closely with our priorities and will be a valuable addition as we continue to execute our strategy."

Davis expressed gratitude for the opportunity to join Pangaea’s Board and looks forward to working alongside management and fellow directors to drive long-term shareholder returns. He was appointed pursuant to the established Investor Rights Agreement with Strategic Shipping Inc., showcasing a clear commitment to shareholder collaboration.

Pangaea Logistics Solutions Ltd., listed on Nasdaq under the symbol PANL, is renowned for providing comprehensive seaborne dry bulk logistics and transportation solutions. The company specializes in a range of logistics services tailored for industrial clients needing the transport of various dry bulk cargoes, including products such as grains, coal, iron ore, and cement clinker. Pangaea prides itself on its ability to deliver a full spectrum of logistics activities, from cargo loading and discharge to vessel chartering and technical management.

This recent appointment of Eugene I. Davis underscores Pangaea's dedication to enhancing its leadership framework while advancing its strategic goals. As the maritime logistics industry faces evolving challenges, the addition of Davis is likely to bring fresh insights and guidance to steer Pangaea toward continued success.

For more information about Pangaea Logistics Solutions, visit Pangaea's website.