Okeanis Eco Tankers is pleased to announce the following changes to its management team:

1: Aristidis Alafouzos, currently the Chief Operating Officer , will replace Ioannis Alafouzos as Chief Executive Officer  of OET, who will remain as Chairman of the Company. Aristidis Alafouzos will assume the role of CEO from December 1, 2022

2: Iraklis Sbarounis will join the Company as Chief Financial Officer , serving alongside Konstantinos Oikonomopoulos, who will take over the role of Chief Development Officer. Mr. Sbarounis will assume the role of CFO from January 9, 2023.

Ioannis Alafouzos commented: “We are pleased to announce the strengthening of our management team. After over four years since the first major step of our journey, our IPO in Oslo, leveraging on our industry-leading fleet and performance, we are excited to enter our next chapter. The management team share the values that have shaped OET, and their insights and experience will serve as the basis to lead and develop the Company going forward. I look forward to continuing working with the rest of our board of directors and ensure the long-term vision of OET is successfully implemented.”

Aristidis Alafouzos commented: “Together with the rest of the OET team, we have been building a high-performance tanker company through a period of high volatility, and at times strongly adverse market conditions. I am extremely proud of what we have achieved and am greatly humbled by the confidence placed in me by the board of directors. I am confident that my years as COO have taught me invaluable lessons which I shall put to use in service to the Company and our shareholders. This is an incredibly exciting time for OET and I look forward to help steer our Company on its onward journey.”

Iraklis Sbarounis has a wealth of experience within most facets of finance in the maritime sector, ranging from capital markets to bank debt and alternative funding structures. Prior to joining OET, he was Group CFO at TMS Shipping Group. Mr Sbarounis commented: “I am delighted and excited to join the OET team. With its young fleet, solid commercial track-record, and attractive operational and financial leverage, the Company is uniquely positioned to deliver strong results, going into a very promising market. I look forward to working with Aristidis, Konstantinos, and the rest of the OET team, and contributing to the Company’s strategy and value creation for our shareholders.”

Mr. Sbarounis was previously with the TMS Shipping Group for 14 years, most recently having served as its Group CFO. He also served as Ocean Rig UDW’s (formerly a public company listed on NASDAQ) CFO, Corporate Secretary and Director, until its merger with Transocean in 2018, and prior to that as its VP Business Development. He started his career in investment banking with BNP Paribas. Iraklis has extensive experience in dealing with corporate finance, commercial and investment matters as an executive in the shipping industry, as well as the capital markets. He holds a B.S. degree in Management Science from the Massachusetts Institute of Technology (MIT) and a M.Sc. degree in Finance and Economics from the London School of Economics and Political Science (LSE).