Navios Maritime Partners L.P. Announces Senior Leadership Changes

Rhea-AI Summary

Navios Maritime Partners L.P. (NYSE: NMM) has announced key leadership changes, promoting Stratos Desypris to Chief Operating Officer and appointing Erifili Tsironi as Chief Financial Officer. Desypris, who has been with Navios since 2006, previously served as CFO and will now oversee business operations. Tsironi brings 24 years of experience in ship finance, having previously held the CFO role at Navios Maritime Containers. These appointments aim to enhance the company’s operational and strategic capabilities.

Positive

• Stratos Desypris's promotion may strengthen daily operations and strategy execution.
• Erifili Tsironi's financial expertise could enhance Navios's financial strategies.

Negative

• Resignation of Leonidas Korres may impact financial oversight during transition.

• Stratos Desypris to Chief Operating Officer
• Erifili Tsironi to Chief Financial Officer

MONACO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM), an international owner and operator of dry cargo and tanker vessels, announced today Senior Leadership changes with the promotion of Stratos Desypris to the position of Chief Operating Officer and the appointment of Erifili Tsironi to the position of Chief Financial Officer.

Mr. Desypris joined Navios Group in 2006 and served as Chief Financial Officer of Navios Partners since 2010. While at Navios Partners, he led a number of initiatives including mergers, acquisitions and financing transactions. Mr. Stratos Desypris will work closely with Ms. Frangou in leading the execution of the company’s strategies and projects and will have primary responsibility for overseeing business operations.

Mrs. Tsironi joined the Navios Group in 2014 and has approximately 24 years’ experience in ship finance, including senior positions in commercial banks. Previously, she served as Chief Financial Officer of Navios Maritime Containers L.P. until its merger with Navios Partners in March 2021.

Commenting on these appointments, Ms. Frangou, Chairwoman and CEO of Navios Partners, stated, “These promotions will serve Navios Partners well. I have come to appreciate their tireless devotion to the company and deep industry expertise. As COO, Mr. Desypris will strengthen our daily operations and strategic capabilities. Ms. Tsironi, as CFO, adds a world-class shipping finance professional to our leadership team.”

Navios Partners also announced the resignation of Mr. Leonidas Korres, Chief Financial Officer of Navios Maritime Acquisition Corporation. Ms. Frangou stated: “I thank Leonidas for his many contributions to Navios Acquisition and wish him success in his future endeavors.”

About Navios Maritime Partners L.P.

Navios Maritime Partners L.P. (NYSE: NMM) is an international owner and operator of dry cargo and tanker vessels. For more information, please visit the Company’s website: www.navios-mlp.com.

Forward-Looking Statements

This communication contains forward-looking statements relating to the transaction involving Navios Partners and Navios Acquisition, including statements as to the effects of the transaction and statements relating to Navios Partners’ future success. Statements in this communication that are not statements of historical fact are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. These forward-looking statements are neither forecasts, promises nor guarantees, and are based on the current beliefs of management of Navios Partners and Navios Acquisition as well as assumptions made by and information currently available to Navios Partners and Navios Acquisition. Such statements reflect the current views of Navios Partners and Navios Acquisition with respect to future events and are subject to known and unknown risks, including business, economic and competitive risks, uncertainties, contingencies and assumptions about Navios Partners and Navios Acquisition, including, without limitation, (i) potential adverse effects or changes to relationships with customers or other parties resulting from the completion of the proposed transaction, (ii) possible disruptions from the transaction that could harm Navios Partners and Navios Acquisition respective businesses, including current plans and operations, (iii) unexpected costs, charges or expenses resulting from the proposed transaction, (iv) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction, including the possibility that the expected cost savings and other benefits expected from the proposed transaction will not be realized or will not be realized within the expected time period, and (v) the unknown future impact of the COVID-19 pandemic on Navios Partners and Navios Acquisition’s operations or operating expenses. More details about these and other risks that may impact Navios Partners and Navios Acquisition respective businesses are described under the heading “Risk Factors” in the reports Navios Partners and Navios Acquisition file with or furnish to the SEC, including their respective Annual Reports on Form 20-F and Reports on Form 6-K, which are available on the SEC’s website at www.sec.gov. Navios Partners cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Navios Partners does not undertake any duty to update any forward-looking statement or other information in this communication, except to the extent required by law. Navios Partners makes no prediction or statement about the performance of its common units.

Contacts

Navios Maritime Partners L.P.
+1 (212) 906 8645
Investors@navios-mlp.com

Nicolas Bornozis
Capital Link, Inc.
+1 (212) 661 7566
naviospartners@capitallink.com

FAQ

What leadership changes were announced for Navios Maritime Partners (NMM)?

Navios Maritime Partners announced the promotion of Stratos Desypris to Chief Operating Officer and the appointment of Erifili Tsironi as Chief Financial Officer.

What experience does Stratos Desypris have at Navios Maritime Partners (NMM)?

Stratos Desypris has been with Navios since 2006 and served as Chief Financial Officer since 2010, leading various initiatives including mergers and acquisitions.

Who is Erifili Tsironi and what is her background with Navios Maritime Partners (NMM)?

Erifili Tsironi joined Navios in 2014, bringing 24 years of ship finance experience, and previously served as CFO of Navios Maritime Containers.

What was said about the leadership appointments in the press release regarding Navios Maritime Partners (NMM)?

CEO Ms. Frangou expressed confidence that the promotions would benefit the company due to the appointees' dedication and industry expertise.

Who resigned from Navios Maritime Partners (NMM) and what was the impact?

Leonidas Korres resigned as CFO of Navios Maritime Acquisition, which could affect financial oversight during the transition.