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New CEO for Baltic Exchange

September 29 - The Baltic Exchange Limited (Baltic Exchange) has named Mark Jackson as its next ceo.

Currently chief commercial officer of AM Nomikos Group and a former chairman and director of The Baltic Exchange, Jackson 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.

This week, 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. Jackson is expected to play a key part in the development of the Baltic Exchange under its new owners.

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."

Marrk Jackson

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