SAFE BULKERS INC
SymbolSB

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Safe Bulkers Names John T. Gaffney as Director Replacing Basil Sakellis

2009-10-21 08:30 ET - News Release

ATHENS, GREECE -- (MARKET WIRE) -- 10/21/09

Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, has announced that John T. Gaffney, Executive Vice President of First Solar, Inc., has been appointed as an independent member of the Company's board of directors, replacing Basil Sakellis, who has resigned to pursue personal interests.

Mr. Gaffney joined First Solar in January 2008. He leads First Solar's corporate development, legal, sustainable development and environmental affairs departments. Prior to joining First Solar, Mr. Gaffney practiced law at the firm of Cravath, Swaine & Moore LLP, where he was a partner since 1993. During his time at Cravath, Mr. Gaffney advised numerous corporate and financial institution clients on merger, acquisition and capital markets transactions. Mr. Gaffney holds a B.A. from The George Washington University and an M.B.A. and J.D. from New York University.

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