Eagle Bulk Shipping director Randee Day has resigned as George Economou tries to place her on the board of US-listed rival Genco Shipping & Trading.
The shipowner said in a filing that Day had informed it of her decision on 17 January, and left the next day.
Day was chair of Eagle Bulk’s compensation committee and a member of the audit committee.
“Ms Day did not resign due to any disagreement with the company on any matter relating to its operations, policies or practices,” the company said.
TradeWinds has reported that Day is one of two nominees put forward by shipowner George Economou after he took a 5.4% stake in Genco.
Genco is the third New York-listed shipowner — and easily the biggest — at which Economou has first revealed a shareholding stake and then nominated directors.
Day is a maritime finance veteran.
The head of the consulting group Day & Partners has 35 years in the business and is a director at International Seaways.
She was interim chief executive at VLCC owner DHT Maritime, now called DHT Holdings.
Economou is also supporting Robert Pons, CEO of Spartan Advisors, who is identified as having served on boards of 16 listed companies over a 40-year career.
Major takeover
Eagle Bulk itself is being taken over by US-listed Star Bulk Carriers
The Connecticut company will become part of Star in an all-stock merger.
Star chief executive Petros Pappas is to lead the combined company, which is to boast a fleet of 169 bulkers and a market capitalisation of about $2.1bn.
It is estimated the Greek company is paying about $500m on a shares basis.
