Danaos C-suite reshuffle as Prokopakis retires as chief operating officer

Danaos Corp announced that Iraklis Prokopakis will retire as the container ship owner’s chief operating officer, with deputy Dimitris Vastarouchas named as his replacement.

Prokopakis will keep his position on the New York-listed tonnage provider’s board of directors but will also retire from his senior vice president role.

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The changes will take place in the fourth quarter.

Prokopakis has been chief operating officer at the Athens-headquartered Danaos Corp since 1998.

“His leadership and expertise have played a significant role in the development of Danaos over the past 25 years, and Iraklis leaves at a time when the company is as strong as it has ever been,” chief executive John Coustas said in a statement.

“We are happy that Iraklis will remain on the board of Danaos and continue to contribute his deep knowledge and experience to the company, offering valuable insights on ongoing strategic planning.”

Danaos Corp said that Prokopakis plans to pursue his academic interests after retirement. His LinkedIn profile lists him as trustee at American Community Schools Athens and Pennsylvania’s Widener University.

Vastarouchas steps into the COO chair 28 years after he started at Coustas-controlled private manager Danaos Shipping, where he became technical director in 2005. He has been deputy COO at Danaos Corp for the last 12 years.

The company also announced that Filippos Prokopakis, who is commercial director at Danaos Shipping, has been appointed chief commercial officer. His family relationship to Iraklis was not disclosed.

“Danaos is also fortunate to have the right team in place to enable a smooth leadership transition,” Coustas said.

“Dimitris and Filippos are both long-tenured members of Danaos or our Manager and have significant relevant experience and capabilities to ensure our operating capabilities remain exceptional going forward.”