Genco Shipping & Trading named a replacement director after former chief executive Peter Georgiopoulos stepped down from the board earlier this year.
In addition, the company is asking shareholders to approve a proxy proposal that will increase the size of Genco's board from eight to nine members.
The move comes after Apollo Management, Strategic Value Partners and Centerbridge agreed to backstop $125m in new preferred equity in Genco.
A board committee recommended Jason Scheir to fill a vacancy on the board, according to a regulatory filing from the New York-listed bulker owner. Scheir, 36, is a managing director of Apollo, which recommended him to the position.
Apollo operating partner and Genco board member Arthur Regan took over the chairman's role from Georgiopoulos who resigned in October.
Scheir's other maritime experience includes serving as director of Apollo portfolio company MSEA Tankers and tanker operator Prime Marine. Prior to joining Apollo, Scheir worked at Tailwind Capital, a middle market private equity firm. Scheir was also a member of the Restructuring Group and Mergers & Acquisitions Group at Rothschild.
In addition to Scheir, Genco's board is nominating Christoph Majeske, a director for Strategic Value Partners, to fill a new, ninth seat on Genco's board.
Majeske, 37, is also on the board of Swift Energy, GSE Environmental and White Energy. He was previously with Cerberus Capital Management.
If elected, Majeske would join Strategic Value Partners managing director John Brantl on the board of Genco.
Centerbridge already has two members on Genco's board, Kevin Mahony and Bao D. Truong.
