SOURCE: Danaos Corporation

Danaos Corporation

May 26, 2011 16:05 ET

Danaos Corporation CFO Steps Down

ATHENS, GREECE--(Marketwire - May 26, 2011) - Danaos Corporation (NYSE: DAC), a leading international owner of containerships, announced today that Vice President & Chief Financial Officer Mr. Dimitri J. Andritsoyiannis will step down as of June 10, 2011 to pursue other interests. Following that date, Mr. Evangelos Chatzis, currently Deputy Chief Financial Officer, will become Acting Chief Financial Officer. He has worked closely with Mr. Andritsoyiannis throughout many years and brings continuity and valuable experience to the post. The board intends to consider the formal appointment of a successor Chief Financial Officer at its meeting in July.

Mr. Dimitri Andritsoyiannis who has been serving on the board since 2005 will also be stepping down as of the same date, thereby reducing the board to 7 from its current 8 members.

The board of directors wishes to thank Mr. Andritsoyiannis for the long and tested commitment he showed throughout the almost 7 years in his position as the Chief Financial Officer and Executive Director of the Company and having helped the Company through its initial public offering and stock exchange listing, as well as navigating it through its recent successful balance sheet restructuring.

Dr. Coustas, President and Chief Executive Officer of Danaos, commented: "Dimitri has shown an extraordinary sense of dedication and drive in the common goals that we have set over time for the Company. I wish to thank him for all the years of insight and hard work that contributed to further solidifying the Company's future and for preparing a team of professionals which ensures seamless continuity. We all wish him every success with his future plans."

About Danaos Corporation

Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 55 containerships aggregating 257,029 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is one of the largest US listed containership companies based on fleet size. Furthermore, the company has a contracted fleet of 10 additional containerships aggregating 105,650 TEU with scheduled deliveries up to the second quarter of 2012. The company's shares trade on the New York Stock Exchange under the symbol "DAC".

Visit our website at www.danaos.com

Contact Information

  • For further information please contact:
    Company Contact:
    Dimitri Andritsoyiannis
    Chief Financial Officer
    Danaos Corporation
    Athens, Greece
    Tel: +30 210 419 6481
    E-Mail: cfo@danaos.com

    Iraklis Prokopakis
    Chief Operating Officer
    Danaos Corporation
    Athens, Greece
    Tel. +30 210 419 6400
    E-Mail: coo@danaos.com

    Investor Relations and Financial Media:
    Nicolas Bornozis
    President
    Capital Link, Inc.
    New York
    Tel. 212-661-7566
    E-Mail: danaos@capitallink.com