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Diana Shipping Inc. announces management succession

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has announced that its Board of Directors has approved a series of senior management appointments intended to provide for an orderly succession and to ensure the continued sound strategic management of the Company. The management appointments described below will be effective as of 1 March 2021. The appointments were made by the unanimous decision of the Board of Directors.

Ms. Semiramis Paliou has been appointed Chief Executive Officer of the Company. Accordingly, she will no longer serve in her previous positions as Chief Operating Officer and Deputy Chief Executive Officer.

Mr. Simeon Palios’ position as Chairman of the Board of Directors remains unchanged. He will serve in such capacity as non-executive Chairman when the Chief Executive Officer role is assumed by Ms. Paliou. In connection with this change, the Board of Directors recognised the immeasurable contributions of Mr. Palios since the founding of the Company.

Mr. Anastasios Margaronis will continue to serve in his current capacity as President and a Director of the Company, positions he has held since 2005.

Mr. Ioannis Zafirakis has been appointed Chief Financial Officer on a permanent basis. He had served in that role on an interim basis since February 2020. Mr. Zafirakis also will remain the Chief Strategy Officer, Treasurer and Secretary of the Company.

Mr. Eleftherios Papatrifon has joined the Company and has been appointed to the position of Chief Operating Officer.

Commenting on the appointments, the Company’s Chairman, Mr. Simeon Palios, stated:

“The Board of Directors has recognised the importance of providing an orderly and seamless succession, which will ensure that we have the senior leadership in place to continue the strategic vision and sound management of the Company for the future. Ms. Semiramis Paliou has clearly demonstrated her strong qualifications for her new role as Chief Executive Officer. She has a deep knowledge and understanding of the shipping industry and our Company. In particular, she has served admirably as Deputy Chief Executive Officer since October 2019, a period when our Company and industry faced the unprecedented challenges of the COVID-19 pandemic. I have great confidence in the strength and continuity of the entire Diana Shipping Inc. leadership team.”

Ms. Semiramis Paliou, incoming Chief Executive Officer, stated:

“It is an honour to have been appointed by the Board of Directors to the Chief Executive Officer position, and I am grateful for the trust and confidence that have been placed in me. I look forward to leading the Company through the challenging and rapidly changing shipping environment, and to maintaining Diana Shipping Inc.’s position as a leader in our industry. In doing so, I highly value and rely on the expertise and support of our exceptional management team, including our Chairman, Mr. Simeon Palios, and my fellow executives Mr. Anastasios Margaronis, Mr. Ioannis Zafirakis, and Mr. Eleftherios Papatrifon, the new addition to our team.”

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