Having earlier this week announced his daughter, Semiramis Paliou, as deputy CEO and future successor at Diana Shipping, Symeon Palios has given the nod at Performance Shipping to his son-in-law, Andreas Michalopoulos, by promoting him to the role of deputy CEO.
Michalopoulos, who is married to Palios’ youngest daughter, will likely eventually succeed Palios, the company said.
Commenting on the appointment, Palios said: “I share the board’s view that Andreas is well qualified to assume the position of chief executive officer of the company in the future. Having served as chief financial officer and treasurer since the company’s founding in 2010, he is uniquely familiar with the business and operation of the company and upon my eventual retirement as chief executive officer, I am confident he will lead the company through its next stage of development. I also applaud the board for taking today’s action and recognizing the importance of a measured transition process.”
Performance Shipping, previously named Diana Containerships, has recently branched out into the tanker sector acquiring a pair of aframaxes from Maersk Tankers.