Pangaea Logistics Solutions Ltd. (Nasdaq: PANL) has announced the appointment of Paul M. Leand, Jr. to its Board of Directors as a Class III director, effective immediately. Mr. Leand brings over two decades of experience advising companies and investors in the maritime shipping industry, serving as the Managing Director and Chief Executive Officer of AMA Capital Partners.
The appointment of Mr. Leand reflects Pangaea's commitment to maintaining a highly qualified, deeply experienced Board, with Chairman Richard du Moulin emphasizing the significance of adding Mr. Leand's industry expertise and insights to the Board of Directors. Mr. Leand's appointment comes as part of a Cooperation Agreement entered into by the Company and Strategic Shipping Inc., containing certain customary terms, including standstill restrictions and voting commitments.
Pangaea Logistics Solutions Ltd., a global provider of comprehensive maritime logistics solutions, focuses on providing seaborne dry bulk logistics and transportation services, along with terminal and stevedoring services. The company addresses the logistics needs of its customers by offering a comprehensive set of services and activities, including cargo loading, discharge, port and terminal operations, vessel chartering, voyage planning, and vessel technical management.
Pangaea's commitment to shareholder value creation is further underscored by the addition of Mr. Leand to its Board of Directors. The Company's continued momentum and dedication to delivering sustained value for shareholders are evident through strategic appointments and maintaining a focus on industry expertise and insights to drive its operations forward. Following these announcements, the company's shares moved -0.99%, and are now trading at a price of $7.02. Check out the company's full 8-K submission here.
