Seatankers Group Delivers Open Letter To Fellow Shareholders Of International Seaways, Inc.; Believes That The Board Suffers From Various Governance Shortcomings And Requires Significant Corporate Governance Reform And Refreshment
Portfolio Pulse from Happy Mohamed
Seatankers Group, the largest shareholder of International Seaways, Inc. (INSW), with a 16.6% stake, has expressed frustration with the company's board for not engaging in shareholder value-creation initiatives. Seatankers plans to vote against the re-election of two incumbent directors and against ratifying the company's poison pill.
May 30, 2023 | 12:18 pm
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Seatankers Group's frustration with International Seaways' board may lead to changes in the company's governance, potentially impacting its stock price.
Seatankers Group, the largest shareholder of INSW, is frustrated with the company's board for not engaging in shareholder value-creation initiatives. This may lead to changes in the company's governance, which could impact its stock price. However, the short-term impact is uncertain as it depends on the outcome of the upcoming annual meeting and the board's response to Seatankers' concerns.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100