George Economou has quit his attempt to place his nominee on the board of Genco Shipping & Trading — while claiming it’s his influence that has helped a surge in the dry bulk owner’s stock price.

The Greek magnate’s GK Investors said in a public filing after the close of trading in New York on Thursday that it had withdrawn the nomination of businessman Robert Pons to the Genco board, as well as a proposal to repeal the company’s bylaws.