Ross, the billionaire investor, says his exit from Navigator Holdings' boardroom is required by new European rules limiting directorships of bank officers.
Wendy Teramoto, the managing director of Ross's flagship company, WL Ross & Co, will take his seat at Navigator.
Ross said in a statement: “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.”
Ross
