CP Ships Appoints New Chairman, CEO

Following the Annual and Special Meeting of Shareholders today, CP Ships Limited's Board of Directors appointed Ray Miles as Chairman and Frank Halliwell as CEO. Former Chairman Lord Weir has been appointed lead independent director. Ian Webber continues as CFO.

Shareholders approved a change in the by-laws and the Board agreed to extend for a further year the terms of Lord Weir and John McNeil beyond the normal retirement date for non-executive directors of 70 years. The CP Ships Board now consists of the Chairman, six independent directors and two executive directors, all of whom have served since the company was first publicly listed in October 2001.