Nordic American Tankers Ltd (NYSE: NAT) – New Board Member

Rhea-AI Summary

NAT announces the nomination of Ms. Jenny Chu as a new Board Member, marking the first time a female will join the board since the company's listing in 1995. Ms. Chu is expected to join by the end of April 2022. With a strong background as detailed in her Curriculum Vitae, her appointment is anticipated to bring fresh perspectives and enhanced leadership to the company. Shareholders are encouraged to view her CV for more insights into her qualifications.

Positive

• First female board member expected to bring fresh perspectives and enhanced leadership.

Negative

• Concerns about continuity and experience gaps due to new board composition.

 

Thursday, March 24, 2022

 

Dear Shareholders and Investors,

We are pleased to inform you that Ms. Jenny Chu will be suggested to be elected as a Board Member of NAT. This is the first time a female will join the NAT Board. NAT was stocklisted in 1995.

She is expected to join the NAT Board at the end of April 2022.

Enclosed please find her Curriculum Vitae (CV). 

She is an American citizen domiciled in Los Angeles. Her competence is impressive, which you will see in the enclosed CV.
Her comprehensive experience is reflected in the attachment. 

For contacts, please see at the end of this message.                                                                www.nat.bm  

 

 

 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.

NAT is a Bermuda based company.

 

Contacts:       

Gary J. Wolfe
Seward & Kissel LLP
New York, USA
Tel: +1 212 574 1223

Bjørn Giæver, CFO                                                             
Nordic American Tankers Ltd                                             
Tel: +1 888 755 8391 or +47 91 35 00 91                                 

Herbjørn Hansson, Founder, Chairman & CEO
Nordic American Tankers Ltd
Tel: +1 866 805 9504     

Attachment

• JENNY CHU CV

FAQ

What is the significance of Ms. Jenny Chu joining the NAT Board?

Ms. Jenny Chu's appointment as the first female board member represents a milestone for NAT and is expected to enhance leadership perspectives.

When is Ms. Jenny Chu expected to officially join the NAT Board?

Ms. Jenny Chu is expected to join the board at the end of April 2022.

What does Ms. Chu's background suggest for NAT's future?

Ms. Chu's impressive qualifications could bring valuable insights and strategies to NAT, potentially benefiting shareholders.

How does NAT's board composition change with the new appointment?

With Ms. Chu's appointment, NAT will have its first female board member, which may address diversity and enhance decision-making.