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UPDATE 1-DryShips names new CFO

Fri Oct 16, 2009 10:23am EDT

Stocks

   

* Nakhleh joins from Aegean Marine Petroleum Network

* Appointment effective Nov. 1

* Shares down 2 percent

Oct 16 (Reuters) - Greek drybulk shipping company DryShips Inc (DRYS.O) named Ziad Nakhleh as its chief financial officer, a role that was held by Chief Executive George Economou on an interim basis.

Nakhleh joins from international marine fuel logistics company Aegean Marine Petroleum Network Inc (ANW.N) and the appointment is effective Nov. 1, DryShips said in a statement.

DryShips, which has been battling debt issues, is currently looking to obtain waivers from some lenders on credit terms. [ID:nBNG457658]

DryShips shares were down 2 percent at $7.06 Friday morning on Nasdaq. The stock had nearly tripled from a low of $2.72 touched in March. It traded as high as $25 in October last year. (Reporting by Adveith Nair in Bangalore; Editing by Deepak Kannan) ((adveith.nair@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net))



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