Mazarakis COO, Kanellopoulos CFO, Excel Maritime
Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced that Charalampos Mazarakis has been appointed as the Company's Chief Operating Officer. Mazarakis will assume his position in mid May 2010. The company also announced that Pavlos Kanellopoulos has been appointed as the company's Chief Financial Officer. Kanellopoulos will assume his position in early April 2010. Mazarakis has 20 years of experience in finance and operations positions, mostly at a senior level. Mazarakis started his career in 1991 at Procter & Gamble in Greece.
Globalstar To Receive Additional Financing
Satellite telecommunications firm Globalstar Telecommunications said on Monday that five of its founding partners will provide the company with further equity financing. Under the terms of their agreements, Loral Space & Communications Ltd., Vodafone Group Plc, Qualcomm Inc.; Elsacom, and a France Telecom/Alcatel partnership will purchase 5.2 million shares of common stock of Globalstar for $56 million. Loral will purchase $12 million of this total. A sixth partner, ChinaSat, has indicated an intent to purchase an additional $12 million of Globalstar shares upon receipt of government approval. The share purchases are based on a price of $10.71 per share. The transaction is expected to close by September 29.
