Pangaea Logistics Solutions Ltd. has announced that Richard T. du Moulin, Chair of the Board of Directors, will retire effective December 31, 2026. This transition is significant for the company, which has seen du Moulin's leadership since its IPO in 2014.

Du Moulin has been a key figure in the company for over 25 years, providing extensive knowledge and guidance. Claus Boggild, the Lead Independent Director and one of the founders of Pangaea, expressed gratitude for du Moulin's contributions, stating, "It has been a privilege and a pleasure to benefit from Mr. du Moulin's vast knowledge, forethought and integrity throughout this time. He will be missed." The Board acknowledges his many contributions and wishes him well in retirement.

Pangaea Logistics Solutions Ltd. operates in the deep sea foreign transportation of freight sector, a critical component of global trade. As the company prepares for this leadership change, the industry may observe how it affects governance and strategic direction.

Details were not available in the SEC filing regarding any immediate plans to replace du Moulin or how the Board will adjust to his departure. The filing, dated November 9, 2026, is accessible under accession number 0001628280-26-072272.

Company Background and Leadership Transition

Pangaea Logistics Solutions Ltd., incorporated in Bermuda, has been a significant player in the deep sea foreign transportation of freight sector since its IPO in 2014. The company operates under the trading symbol 'PANL' on the Nasdaq Stock Market LLC. With over 25 years of experience, Richard T. du Moulin's leadership has been instrumental in shaping the company's strategic direction and governance.

The filing notes that the Board of Directors greatly appreciates du Moulin's contributions during his tenure and expresses best wishes for his retirement. However, the filing does not provide specific details regarding the process for selecting his successor or any interim leadership plans that may be implemented during this transition period.

"The Board greatly appreciates Mr. du Moulin’s many contributions to the Company during his tenure on the Board and wishes him the very best in retirement."

As the company approaches this pivotal transition, stakeholders will be keenly observing how the change in leadership may influence its operations and strategic initiatives moving forward.