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Seaspan co-founder and ceo Gerry Wang to retire

Seaspan co-founder and ceo Gerry Wang to retire

Seaspan Corp co-founder and ceo Jerry Wang is set to retire at the end of the year.

The containership owner said that Wang, co-founder, co-chairman and ceo, was retiring at the end of 2017 to focus on his family business investments and charitable work. Seaspan has launched a search for a new ceo.

Seaspan director David Sokol has been appointed as the new chairman of the company with Kyle Washington and Wang appointed as chairman emeritus.”It has been a fun and challenging journey for the past 20 years. I am choosing this timing because the company’s financial and operational position is strong and industry fundamentals have improved,” Wang said.

At the end of June Seaspan announced it was extending discussions in regards to employment agreement negotiations with a conclusion expected before the end of July. In April Wang’s contract was amended to remove transaction fees.

Dennis R. Washington: whose family is Seaspan’s largest shareholder, commented, “It has been a pleasure partnering with Gerry since the Company’s founding by Gerry nearly twenty years ago. Gerry, along with Seaspan’s world class professionals, has built Seaspan into the world’s leading containership leasing platform.

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