Eagle Bulk Shipping Inc. Announces Chief Financial Officer Transition

Eagle Bulk Shipping Inc. EGLE today announced that Adir Katzav, formerly Director of Financial Reporting, has been promoted to Chief Financial Officer. Mr. Katzav succeeds Mr. Alan S. Ginsberg, who has advised the Company of his decision to pursue other professional interests. To facilitate an orderly transition, Mr. Ginsberg has agreed to oversee a transition of his responsibilities through mid-August of this year. Sophocles N. Zoullas, Eagle Bulk's Chairman and Chief Executive Officer, commented, "On behalf of Eagle Bulk Shipping's Board of Directors, I would like to thank Alan for his dedication, commitment and leadership over the years. His contributions have spanned our initial public offering through some of the most challenging shipping markets in a generation. We congratulate Alan, and extend our best wishes for his future endeavors." Mr. Zoullas added, "Adir brings both technical expertise and a strategic skill set to his expanded responsibilities, as was underscored by his direct involvement in our recently-concluded, successful syndicate agreement. I have seen first-hand the leadership, finance and accounting experience he possesses, and look forward to working with him in his new, expanded role."