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Paragon Appoints New Non-Executive Director


Paragon Shipping Inc. Appoints New Non-Executive Director


Paragon Shipping Inc. announced today that its Board of Directors has appointed Mr. George Xiradakis to the Board as an independent, non-executive director, effective today. Mr. Xiradakis replaces Mr. George Skrimizeas who resigned from the Company's Board of Directors but will continue in his current position as the Company's Chiefperating Officer. Mr. Xiradakis has also been appointed to the Company's Audit and Nominating Committees

Since 1999, Xiradakis has been the Managing Director of XRTC Business Consultants Ltd., a consulting firm providing financial advice to the maritime industry, and also provides financial advice to various shipping companies, as well as international and state organizations. Since March 2007, he has served as the President of the National Centre of Port Development in Greece. He also serves as the General Secretary of the Association of Banking and Shipping Executives of Hellenic Shipping.