Fednav Limited announces leadership changes

MONTREAL - Fednav Limited announces today that effective September 10, Paul Pathy will assume responsibility as the sole Chief Executive Officer of Fednav Limited and of Fednav International Ltd (FIL). Since 2010, Paul and Mark Pathy have successfully led Fednav Limited as co-CEOs, and Mark as President and CEO of Fednav International Ltd. (FIL) since 2008. However, as shareholders, Paul and Mark have concluded that it would best for Fednav to operate under one leader. “In his role as co-CEO of Fednav Limited and President and CEO of FIL, Mark has played a significant, indeed essential, leadership role in ensuring the success of the company during a period marked by considerable changes in the market and in our commercial staff. While he is resigning from his positions, he will continue to be involved in the company’s activities as a major shareholder and member of the Board,” stated Laurence Pathy, Chairman of theBoard. Paul Pathy joined Fednav in 2003 as Vice-President and General Manager of Federal Marine Terminals, moving to Senior Vice-President of the Business Development Group in 2007. Since 2010 he has been responsible for various company departments including the Shipowning, Arctic Operations, and Projects group, as well as Finance, Investment, and Risk Management. Fednav Limited Fednav Limited is an international shipowning and operating company headquartered in Montreal. Its principal activities involve the transport of bulk and general cargo around the world. Fednav has offices in Antwerp, Barbados, Hamburg, Rio de Janeiro, Singapore and Tokyo, as well as regional offices in Canada and the United States. Fednav also has terminals, logistics, ice analysis, and ship agency divisions. The company employs 260 office staff worldwide and more than 2,000 crew members and stevedores. Fednav International Ltd. FIL is the ocean freight division of Fednav Limited. It operates a modern fleet of close to 100 bulk and is the leading international user of the Great Lakes-St. Lawrence Seaway System and annually transports close to 25 million tonnes of bulk cargoes worldwide. FIL is renowned for its ice-trading expertise and boasts the world’s largest fleet of ice-class bulk vessels.