Seabulk International Appoints CFO

Wednesday, June 19, 2002
Seabulk International, Inc. announced the election of Vincent J. deSostoa as Senior Vice President and Chief Financial Officer, effective immediately. deSostoa, who most recently served as President and Chief Financial Officer of Zeosoft Corporation, will report directly to Seabulk's President and Chief Executive Officer, Gerhard E. Kurz. He will be responsible for all of the Company's financing activities, including its relations with investment bankers and lending institutions, as well as for the financial reporting function, risk management and information systems. "We are pleased to welcome Vince to the Seabulk management team," commented Kurz. "He is a well-known figure within the maritime industry, and he brings to the table a broad range of both public and private sector experience. He joins our organization at an opportune time as we move ahead on the transactions announced last week. These transactions, which include a $100 million equity investment and a new bank credit facility, will go a long way toward improving the Company's capital structure and generating the funds necessary to support future growth. Vince will play a key role in the funding process, where he is a proven innovator and strategist." Prior to joining Zeosoft, deSostoa served for eleven years as Senior Vice President and Chief Financial Officer of OMI Corporation, an international tanker operator with interests in real estate and energy development. While at OMI, he successfully led equity and debt offerings totaling more than $1 billion. In the mid-1980s deSostoa served as Chief Financial Officer for the New York City Transit Authority, where he helped reengineer the agency's financial systems and laid the groundwork for a major capital program. Prior to that, he was a partner with Peat Marwick, Mitchell & Co., which he joined in 1973. A Vietnam veteran, deSostoa served in the United States Navy from 1965-1969 and is a recipient of the Navy Achievement Award. deSostoa received a B.B.A. in Accounting from Ohio University and an M.B.A. in Finance from Xavier University. He also completed the Harvard University Advanced Management Program and the Stanford University Strategic Planning Program.
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ASA Mission Statement Revised to Expand Reach

The American Salvage Association has revised its mission statement to increase its area of influence beyond North America, complemented by a new logo that reflects the expanded direction.

New Chemical Handling Service from Ferguson Group

Tank, Fluid Solutions and Bunded Storage for Dangerous Goods and Chemicals Introduced at Gap Ridge, Karratha.    Ferguson Group Australia, global specialist in offshore DNV 2.

BP Freezes Pay in 2015 to Cut Costs

BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.   Over the past year,

Legal

26-year Jail Term Sought for Concordia Master

An Italian prosecutor asked a court on Monday to sentence the captain of the Costa Concordia cruise liner to more than 26 years in jail for his role in the 2012 disaster that killed 32 people.

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

Gypsy Moth Clause Takes Balanced Approach to Risk

A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM).

 
 
Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2905 sec (3 req/sec)