Extra Year In Office For Baltic Exchange Chairman Mark Jackson

The Baltic Exchange has announced that at the request of the Board, current Chairman Mark Jackson will continue in the role for one further year, extending his current two year term which commenced on 8 July 2009.

The plan was initiated by the Baltic Exchange’s Vice-Chairman Paul Over and unanimously ratified at a recent Board meeting.

"Right now the Baltic needs both stability and continuity of leadership. Mark has done an excellent job in broadening the activity of the Baltic in step with the developments of its markets and the Board is very keen that he should stay on to complete the task. His leadership in the freight derivatives arena has been indispensible. With the Baltic on the cusp of launching Baltex, a centralised trading screen for the dry freight derivatives market, we are pleased that our constitution permits the flexibility to extend Mark’s tenure,” said Paul Over.

Mark Jackson commented:
"I feel privileged to have been asked by my fellow Directors to stay on and to have the opportunity to have a continued role in the development of the Baltic's projects.  We have an exciting year ahead and I am sure the next 12 months will be a defining period in the history of the Baltic Exchange."
It has been customary for Baltic Exchange Chairmen to serve a term of two years before being replaced by the Vice-Chairman, though on a number of occasions in the past Chairmen have served longer terms.