Capital Product Partners L.P. Announces Appointment of Petros Christodoulou as Chief Executive Officer and Chief Financial Officer

ATHENS, GREECE--(Marketwired - Aug 12, 2014) - Capital Product Partners L.P. (NASDAQ: CPLP) today announced the appointment of Mr. Petros Christodoulou as Chief Executive Officer and Chief Financial Officer. His appointment will be effective from September 1, 2014. 

Mr. Christodoulou will succeed Mr. Ioannis Lazaridis, who has served as the Chief Executive Officer and Chief Financial Officer since the Partnership's formation in January 2007 and as Chief Financial Officer of Capital Maritime & Trading Corp. ("Capital Maritime"), the Partnership's sponsor and its predecessor entity, since 2004. Mr. Lazaridis has been a member of the Partnership's Board of Directors since March 2007. As previously announced in April of this year, Mr. Lazaridis will remain a member of the Board of Directors. 

The appointment of Mr. Christodoulou was unanimously approved by the Partnership's Board of Directors. 

"It is a great pleasure and honor to join Capital Products Partners L.P., a dynamic and fast growing shipping MLP. Over the course of my career I have known and worked with the Chairman of the Board and key directors of CPLP and I now look forward to working with them to address the challenges and opportunities of the future," Mr. Christodoulou stated.

The Chairman of the Partnership's Board of Directors, Mr. Evangelos Marinakis, said, "We are very pleased Petros Christodoulou, one of the most experienced and senior bankers based in Greece with extensive understanding of the international capital and public markets, has joined CPLP. Petros's track record over the past years working for major publicly listed organizations has been outstanding, having guided substantial debt, quasi-equity and equity financings in the international and U.S. markets. As deputy CEO of one of the largest financial institutions in Greece, he has built strong relationships with senior international and U.S. investors."

Mr. Marinakis continued, "The Partnership has performed well in the past few years during the crisis building its distribution coverage, growing and diversifying its asset base and improving its balance sheet. To that end we would like to thank Mr. Lazaridis for his work and contribution over the past 10 years and wish him every success in his future endeavors. From September 1, Petros will lead the Partnership in its next phase of growth together with the Partnership's Board and we together will work to improve future distributions to our unitholders."