Seaspan Corporation
NYSE : SSW

Seaspan Corporation

November 09, 2015 20:54 ET

Seaspan Announces Senior Management Change

HONG KONG, CHINA--(Marketwired - Nov. 9, 2015) - Seaspan Corporation (NYSE:SSW) announces that Sai Chu, Chief Financial Officer, has informed Seaspan of his resignation and retirement from Seaspan effective November 6, 2015, after more than 10 years' of service with Seaspan and related entities.

Gerry Wang, Chief Executive Officer, Co-Chairman and Co-Founder of Seaspan stated, "Sai Chu has been a dynamic contributor to Seaspan's growth over the past decade. We appreciate all the work he has done to lead the financial function of Seaspan. He will be missed, and we wish him all the best in his retirement and future endeavors."

Mr. Chu joined Seaspan in 2005 and held positions in finance before being appointed Chief Financial Officer in 2007. Prior to 2005, Mr. Chu served in finance positions with various companies listed on the Toronto Stock Exchange, after qualifying as a chartered professional accountant, chartered accountant, and chartered professional accountant, certified management accountant.

Seaspan is undertaking a search for a Chief Financial Officer. Mark Chu - Seaspan's Vice President, Corporate Development and General Counsel - will serve as Chief Financial Officer in the interim. Mark Chu joined Seaspan in 2012 following service as a partner with a Vancouver, B.C. law firm and as a tax partner at KPMG LLP. Mark Chu is a member of the British Columbia Bar and is chartered professional accountant, chartered accountant.

About Seaspan

Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services. Seaspan's managed fleet consists of 118 containerships representing a total capacity of over 935,000 TEU, including 18 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2017. Seaspan's current operating fleet of 85 vessels has an average age of approximately seven years and an average remaining lease period of approximately five years.

Seaspan has the following securities listed on The New York Stock Exchange:

Symbol: Description:
SSW Class A common shares
SSW PR C Series C preferred shares
SSW PR D Series D preferred shares
SSW PR E Series E preferred shares
SSWN 6.375% senior unsecured notes due 2019

Contact Information

  • Investor Relations Inquiries:
    Mr. Michael Sieffert
    Associate Director, Corporate Finance
    Seaspan Corporation
    778-328-6490

    Media Inquiries:
    Mr. Leon Berman
    The IGB Group
    212-477-8438