On May 18, 2023, Peter Allen was appointed as the Chief Financial Officer of Genco Shipping & Trading Limited effective June 16, 2023. In this role, Mr. Allen will succeed Apostolos Zafolias, whose departure from the Company was previously announced. Mr. Allen, age 36, previously served as Genco's Senior Vice President, Strategy & Finance since October 2018.

Mr. Allen has been employed with Genco since August 2008. Over his career at the Company, Mr. Allen has served in various finance, accounting and corporate strategy positions. Mr. Allen has 15 years of experience in the shipping industry with a focus on capital allocation, mergers and acquisitions, financial and drybulk market analysis, debt and equity capital markets transactions and SEC reporting.

He has a bachelor of science degree from Fairfield University and holds the Chartered Financial Analyst designation .