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d'Amico International Shipping Announces Antonio Carlos Balestra Di Mottola, CFO

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By MarEx 2016-05-04 14:56:47

d’Amico International Shipping S.A. (Borsa Italiana: DIS) (the “Company”, “d’Amico International Shipping” or the “Group”), a leading international marine transportation company operating in the product tanker market, informs that according to the relevant provisions of the Articles of Association the Board of Directors in its today’s meeting has appointed by co-optation Mr. Carlos Balestra di Mottola as executive director until the earliest Shareholders’ meeting, and delegated to him the power as Chief Financial Officer of the Company.

Following the appointment, the Board of Directors then ascertained that the director Carlos Balestra di Mottola does not fulfil the formal independence requirements set forth in the Borsa Italiana Corporate Governance Code, and that he therefore qualifies as a non-independent executive director.

Mr. Balestra di Mottola has a strong professional background. He has been working within the d’Amico Group since 2003 where he held several roles including the position of financial controller of DIS held until 2008. He currently holds several directorship within the d’Amico Società di Navigazione S.p.A. group (the “d’Amico Group”), being also in charge of the Business Development. Since 2010 Mr. Balestra di Mottola is also a partner, together with the DIS ultimate parent company, of Venice Shipping and Logistics S.p.A., an Italian company specialized in investments in shipping and maritime logistics. Before joining the d’Amico Group, Mr. Balestra di Mottola obtained an MBA from the Columbia Business School, and worked within the investment banking departments of Lehman Brothers (London and New York) and Banco Brascan (São Paulo, Brazil). The curriculum vitae of Mr. Balestra di Mottola is available on the Company’s website (www.damicointernationalshipping.com).

Marco Fiori, Chief Executive Officer of DIS, stated: “The appointment of Carlos Balestra di Mottola points out the professional development of one of the most valuable talents of the Company. He knows well the business and the Company, and that will allow him to give a positive contribution to the financial management of DIS and full assurance toward its stakeholders from day one of his appointment.” According to what disclosed so far to the Company, Mr. Balestra di Mottola currently holds 26,613 DIS shares representing 0.0062% of the Company’s share capital.  

The products and services herein described in this press release are not endorsed by The Maritime Executive.