WOODCLIFF LAKE, NEW JERSEY (June 6, 2017) - SeaCube Container Leasing Limited ("SeaCube") is pleased to announce the appointment of Robert F. Sappio to the position of Chief Executive Officer, effective immediately. Mr. Sappio will be based in SeaCube's headquarters in Woodcliff Lake, New Jersey.
Mr. Sappio brings extensive international experience in the shipping and intermodal transportation industry to his new role. He joined SeaCube as Chief Operating Officer in 2014 and has since led the company's efforts in sales and marketing, customer service, procurement, strategic planning and investment strategy. Prior to SeaCube, Mr. Sappio held positions as President of the Americas Region for Rickmers-Linie and Managing Director for Alvarez & Marsal. Prior to Alvarez & Marsal, Mr. Sappio spent nearly 30 years at APL, Ltd. serving most recently as Senior Vice President where he was responsible for all of APL's commercial activities in the Trans Pacific, Trans Atlantic and Latin American regions.
"Bob has been instrumental in leading SeaCube through a challenging industry environment with a combination of highly relevant experience and demonstrated leadership," said SeaCube board director Jeff Markusson.
SeaCube is also pleased to announce the appointment of Hugh MacDiarmid to Chair of the Board. Mr. MacDiarmid has been a director of the company since 2013 and has served as interim CEO for the past four months. Mr. MacDiarmid has a diverse range of executive and professional experiences that includes serving as Chair of Terrestrial Energy Inc., President & CEO of Atomic Energy of Canada Limited, President & CEO of Laidlaw Transit Inc., and Executive Vice-President, Commercial of Canadian Pacific Railway.
"Hugh brings deep executive experience, industry knowledge, and a strong understanding of the company to his new role. We would like to thank Hugh for his continued service to SeaCube and his leadership over the last four months as interim CEO," Mr. Markusson said. "The Board of Directors has the utmost confidence in the entire SeaCube organization and executive team. We are confident that we have put in place the leadership structure required to take the company forward to a bright future in the container leasing industry," he said.
SeaCube was acquired by Ontario Teachers' Pension Plan in 2013.
About SeaCube Container Leasing Limited
SeaCube is one of the world's largest container leasing companies based on total assets. The principal activities of SeaCube's business include the acquisition, leasing, re-leasing and subsequent sale of refrigerated and dry containers and generator sets. SeaCube leases containers primarily under long-term contracts to a diverse group of the world's leading shipping lines. For more information regarding SeaCube please visit www.seacubecontainers.com.
About Ontario Teachers' Pension Plan
Ontario Teachers' is Canada's largest single-profession pension plan, with $175.6 billion in net assets at December 31, 2016. It holds a diverse global portfolio of assets, 80% of which is managed in-house, and has earned an annualized rate of return of 10.1% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario's 318,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.