The Baltic Exchange Limited (“Baltic Exchange”) announced on Monday that Mark Jackson, currently Chief Commercial Officer of AM Nomikos Group and a former Chairman and Director of The Baltic Exchange, will become its next Chief Executive Officer. He is expected to take up his appointment early in 2017 and replaces the current CEO Jeremy Penn, who last year announced his intention to stand down this summer.
Earlier on Monday, Baltic Exchange shareholders approved by an overwhelming majority the implementation of a Scheme of Arrangement, whereby a wholly owned subsidiary of Singapore Exchange Limited (“SGX”) will acquire The Baltic Exchange, subject to the satisfaction of certain conditions. Mr Jackson is expected to play a key part in the development of the Baltic Exchange under its new owners.
Mr Jackson brings to his new role more than 35 years in shipping. He has worked as a competitive broker, including a period with EA Gibson in London, and for the last 16 years has represented AM Nomikos Group. He was appointed a Director of The Baltic Exchange in 2004 and in 2005 became Chairman of the Freight Indices and Futures Committee. He was elected Vice Chairman of the Baltic Exchange in 2007 and served as Chairman from 2009 until 2012.
Commenting on the appointment Lambros Varnavides, Chairman of The Baltic Exchange said:
“The Board is delighted that Mark Jackson has agreed to become The Baltic Exchange’s next CEO. As a career shipbroker and former Director and Chairman of the Baltic, he has an excellent understanding of its unique role, its potential and the interplay between its stakeholders.
“On behalf of the Board, I should also like to express my gratitude to Jeremy Penn who has served the Baltic with distinction over some 13 years as CEO, and who has played a key role in steering the Baltic through to what we are sure will be an exciting new phase in its development, under the ownership of SGX.”
Loh Boon Chye, CEO of Singapore Exchange Limited said:
“We are delighted that a shipping professional of Mark Jackson’s stature has agreed to join The Baltic Exchange as CEO. It is especially pleasing to note that as a past Chairman of the Baltic, Mark has already demonstrated a huge personal commitment to the business and ethos of the Exchange.”
Mark Jackson added:
“It’s a great pleasure to be taking on this important role at such an exciting time in the history of the Baltic. I am excited by the plans SGX has for the Baltic, and look forward to using my knowledge and experience to ensure it continues to develop and serve the international shipping community.”