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Diana appoints Paliou Deputy CEO

Diana appoints Paliou Deputy CEO

(Posted on 04/11/19)

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced the appointment of Ms. Semiramis Paliou to the office of Deputy Chief Executive Officer, effective immediately. She is the daughter of Diana founder Simos Palios. Ms. Paliou has served as a director of the Company since 2015 and as Chief Operating Officer since 2018, and will continue to serve in these roles. It is expected that the Company’s current Chief Executive Officer and Chairman, Mr. Simeon Palios, will remain fully engaged in his current role. The appointment was made by the unanimous decision of the board of directors upon the recommendation of the Company’s independent Nominating Committee.

The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Commenting on the appointment, Mr. Konstantinos Psaltis, the Chairman of the Company’s Nominating Committee, stated:

“The Nominating Committee believes that Semiramis Paliou is ideally suited to eventually succeed to the chief executive’s office and to continue the disciplined growth of the Company began by our current Chairman and Chief Executive Officer, Mr. Simeon Palios. As a director and current officer of the Company, Semiramis has demonstrated both her deep knowledge and understanding of the shipping industry as a whole as well as her strong leadership capabilities within the Company. While the committee fully expects Simeon to continue to serve the Company in his current capacity for the foreseeable future, today’s appointment is made in recognition of the importance to all stakeholders of a seamless transition of this crucial position.”

Further commenting on the appointment, Mr. Simeon Palios stated:

“The appointment of Semiramis marks the beginning of an important transition to a new generation of senior leadership that I am confident will continue the strategic vision and principles that has served our Company so well since its founding and initial public offering in 2005. I wish to thank the Nominating Committee and all of my fellow board members for taking this important step today.”

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