Safe Bulkers has expanded its board to 11 members from nine, appointing Jeffrey Bunzel and Vasilis Hajioannou with immediate effect, as the New York-listed dry bulk shipowner moves to strengthen both its governance structure and management continuity. 

The company said the board approved the expansion following a recommendation from its corporate governance, nominating and compensation committee. 

The move brings in capital markets expertise through Bunzel, while also furthering generational succession at the company through the appointment of Hajioannou, the son of founder and chief executive Polys V. Hajioannou. 

Bunzel was also deemed independent under New York Stock Exchange standards and has been appointed to the corporate governance, nominating and compensation committee, the environmental, social and corporate governance committee, and the audit committee. 

He brings more than 30 years of experience in investment banking and capital markets. He spent 14 years as managing director and head of equity capital markets at Deutsche Bank AG, after serving as managing director at Credit Suisse from 1994 to 2012.  

He holds a bachelor’s degree from the University of California, Berkeley and a master of arts from the Fletcher School of Law and Diplomacy. He is also a member of the Council on Foreign Relations. 

Hajioannou, for his part, has experience in the operations and chartering side of the business, combining technical knowledge with operational oversight.  

He holds a bachelor’s degree in marine engineering and a master’s degree in shipping and logistics from Newcastle University in the United Kingdom. 

The appointment is also significant for the Greek shipping sector, given that it points to a more visible transition to the next generation within the company’s leadership structure.  

Overall, the board reshuffle reflects two parallel priorities, reinforcing institutional oversight with internationally experienced financial expertise, while at the same time embedding family continuity in a listed shipping group operating in an increasingly demanding market. 

Safe Bulkers provides marine dry bulk transportation services worldwide, carrying cargoes including grain, coal and iron ore. Its common stock and preferred shares are listed on the NYSE.