– UK, London – Navigator Holdings Ltd. (NYSE: NVGS), announces today that Wendy Teramoto has joined our board of directors effective immediately. Ms. Teramoto is a managing director at WL Ross & Co and we have worked with her since December 2011 when funds managed by WL Ross & Co made their initial investment in Navigator. Wendy Teramoto replaces Wilbur Ross Jr who has served on our board since April 2012. Mr Ross was an active board member and we have every confidence that Ms. Teramoto will carry forward these valued contributions.
Mr Ross was recently appointed Vice Chairman of the Bank of Cyprus. Mr Ross resigned from the board of Navigator, as well as the boards of Assured Guaranty, International Automotive Components, International Textile Group, NBNK Ltd., Ocwen Financial Corp. and Talmer Bancorp. due to new regulatory restrictions in the European Union which limit the number of directorships a bank officer may hold. Mr Ross commented, “I regret having to resign from the Board of Navigator along with several other companies with whom I have worked closely, but I am proud that Wendy, along with other members of our team at WL Ross & Co. have developed enough expertise and stature to be welcomed onto the boards of companies such as Navigator in which our firm holds investments.”
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