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Eagle Bulk ceo Zoullas quits

Eagle Bulk ceo Zoullas quits
Eagle Bulk ceo Sophocles Zoullas has quit the New York-listed shipowner and is being replaced by former Cargill senior executive Stanley Ryan.

The move comes as little surprise after Zoullas sought to leave the company last month alleging Notice of Termination for Good Reason of his employment agreement.

Ryan, a board member of Eagle, spent 25 years with Cargill most recently as corporate platform leader based in Shanghai.

“Stanley Ryan's global commodity expertise – earned over many productive years at Cargill – and strong commercial relationships will serve the company well as we navigate ongoing challenges in the dry bulk market,” said Paul Leand chairman of the board of Eagle Bulk.

Eagle Bulk exited Chapter 11 restructuring last October retaining Zoullas as ceo and the existing management team.