Paramita Das
GENCO SHIPPING & TRADINGAbout Paramita Das
Paramita Das (age 48) is an independent director of Genco Shipping & Trading Limited (GNK), appointed March 8, 2024. She previously served as Global Head of Marketing, Development and ESG (Chief Marketing Officer) for Metals & Minerals at Rio Tinto (June 2022–Feb 2024), and is currently Senior Advisor to the CEO and Chief Strategy Officer of Stardust Power Inc. (since Sept 2024). She holds an MBA from the University of Louisville, executive education from the University of Chicago, and a bachelor’s degree from Guru Govind Singh Indraprastha University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Rio Tinto | Global Head of Marketing, Development & ESG (Metals & Minerals) | Jun 2022–Feb 2024 | Led commercial, marketing and ESG strategy for metals and minerals portfolio |
| Rio Tinto Services Inc. | Board Member | Since 2019 | Governance experience within Rio Tinto group |
| Rio Tinto Commercial Americas Inc. (formerly Rio Tinto Nickel Inc.) | President | Since 2019 | Oversight of Americas commercial operations |
| Alcan Primary Products Company, LLC | President & CEO | Since 2019 | Leadership across industrial operations |
| Rio Tinto | General Manager, Marketing & Development, Metals; Head of Chicago Commercial Office | 2018–2022 | Commercial strategy and market development |
| Rio Tinto | Chief of Staff/Group Business Executive to Group CEO | 2016–2017 | Executive office support, strategic initiatives |
| Sumitomo, Itochu, UACJ Consortium | Chief Strategy Officer (Consortium) | Prior to Rio Tinto | Strategic planning across industrial consortium |
| BP | Head of Strategic Planning & Performance | Prior to Rio Tinto | Corporate strategy and performance management |
External Roles
| Organization | Role | Start Date | Sector | Notes |
|---|---|---|---|---|
| Coeur Mining, Inc. | Director | May 2023 | Metals & Mining | Public company board |
| Toromont Industries | Director | Nov 2024 | Industrial Equipment | Public company board |
| Durendal Resources | Advisory Board Member | Mar 2024 | Metals exploration (AI-backed) | Advisory role |
| Stardust Power Inc. | Senior Advisor to CEO & CSO | Sept 2024 | Energy materials (lithium) | Senior advisory role |
Board Governance
- Independence: The Board identifies Paramita Das as an independent director under NYSE standards .
- Committee assignments (effective Jul 1, 2024):
- Compensation Committee: Member; committee held 6 meetings in 2024 .
- ESG Committee: Member; committee held 2 meetings in 2024 .
- Board activity and engagement:
- Board met 12 times in 2024; all directors attended at least 75% of Board and relevant committee meetings; seven directors attended the 2024 Annual Meeting .
- Executive sessions: Independent directors held one executive session in fiscal 2024 .
- Board diversity: Three of seven directors are women; one director is of Asian ethnicity .
Fixed Compensation
| Item | 2024 Amount | Notes |
|---|---|---|
| Cash fees | $69,395 | Pro-rated Board/committee fees following March 2024 appointment; standard cash components include $75,000 annual retainer, plus committee chair/member fees as applicable |
| Stock awards (RSUs) – grant date fair value | $124,933 | Director RSUs generally deliver shares upon termination of service; for 2024 grants, settlement is deferred |
| Total | $194,388 | Sum of cash and RSU grant-date value |
Additional director compensation structure (Board-wide in 2024):
- Annual retainer for directors: $75,000; Audit Chair: $20,000; Audit member: $10,000; Compensation/Nominating/ESG Chair: $15,000; Compensation/Nominating/ESG member: $7,500; all prorated for service length .
Performance Compensation
| Equity Award | Grant Date | Shares/Units | Vesting/Settlement | Fair Value |
|---|---|---|---|---|
| RSUs (Director grant) | May 30, 2024 | 6,159 RSUs (incl. dividend equivalents) | Vest on the earlier of the 2025 Annual Meeting or 14 months after grant; shares issued upon director’s service termination for standard director RSUs | Included in 2024 director stock awards ($124,933) |
Performance metrics: None for director compensation; equity awards are time-based RSUs (no TSR/ROIC or other performance hurdles for directors) .
Other Directorships & Interlocks
| Company | Sector Overlap with GNK | Committee Roles Elsewhere | Potential Interlocks/Conflicts |
|---|---|---|---|
| Coeur Mining, Inc. | Mining (commodities) vs. GNK shipping | Not disclosed in GNK proxy | No specific related-party transaction with GNK disclosed |
| Toromont Industries | Industrial equipment vs. GNK shipping | Not disclosed in GNK proxy | No specific related-party transaction with GNK disclosed |
| Durendal Resources (Advisory) | Metals exploration vs. GNK shipping | Advisory only | No specific related-party transaction with GNK disclosed |
| Stardust Power Inc. (Advisor) | Energy materials vs. GNK shipping | Senior Advisor | No specific related-party transaction with GNK disclosed |
Related-party controls: GNK maintains a policy requiring Board/independent committee approval for related-person transactions >$120,000; transactions must be fair and at arm’s-length; directors involved do not vote . Charitable contributions to organizations led by independent directors did not exceed SEC thresholds in 2022–2024 .
Expertise & Qualifications
- Commodities markets leadership; ESG strategy and marketing expertise from Rio Tinto .
- Strategic planning and performance management experience (BP; industrial consortium CSO) .
- Board and governance experience across industrial/mining organizations .
- Education: MBA (University of Louisville); executive education (University of Chicago); bachelor’s degree (Guru Govind Singh Indraprastha University) .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Beneficial ownership (common shares) | 0 shares; 0% of outstanding | As of March 28, 2025, 42,959,464 shares outstanding ; GNK proxy shows “—” for Paramita Das (no beneficial shares) |
| Unvested director RSUs | 6,159 units | Granted May 30, 2024; vest earlier of 2025 Annual Meeting or 14 months |
| Pledging/Hedging | Prohibited under GNK policy for directors (no pledging except grandfathered cases; none noted for Das) | Anti-hedging/anti-pledging policy applies to directors and officers |
| Ownership guidelines | 4× annual cash retainer (directors); 5 years to comply from designation | Time to compliance began upon becoming a director in 2024 |
Insider Trades
| Filing Date | Form | Link |
|---|---|---|
| Mar 20, 2025 (for transactions on Mar 18, 2025) | Form 4 | https://www.streetinsider.com/SEC+Filings/Form+4+GENCO+SHIPPING+%26amp%3B+TRADING+For%3A+Mar+18+Filed+by%3A+Das+Paramita/24530625.html |
| Aug 25–26, 2025 | Form 4 | https://www.sec.gov/Archives/edgar/data/1326200/000114036125032675/xslF345X05/form4.xml |
Note: The GNK proxy states changes in director holdings are reflected in Forms 3/4/5 filed with the SEC and available via EDGAR .
Governance Assessment
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Strengths:
- Independence and active engagement: Das is an independent director and serves on Compensation and ESG committees, aligning with GNK’s risk oversight architecture (compensation risk; ESG/climate/human capital) .
- Relevant sector expertise: Commodities, ESG, and strategy credentials complement GNK’s drybulk shipping exposure and commercial approach .
- Attendance and Board process: GNK directors met frequently (12 times), met attendance thresholds, and held independent executive sessions, supporting robust oversight .
- Shareholder alignment policies: Anti-hedging/anti-pledging, stock ownership guidelines (4× retainer within 5 years), and clawback policy for executives foster governance discipline .
- Shareholder support: Prior say-on-pay received 87.8% approval (May 23, 2024), indicating investor confidence in compensation governance .
-
Watch items / potential risks:
- Ownership alignment: As a relatively new director (since March 2024), Das reported no beneficial share ownership as of March 28, 2025; she has five years to meet ownership guidelines (4× retainer) .
- External commitments: Multiple board/advisory roles (Coeur Mining, Toromont Industries, Durendal Resources, Stardust Power) increase time demands; GNK guidelines limit other public boards to ≤4 and require pre-consultation for new roles to monitor overboarding risk .
- Related-party transactions: None disclosed involving Das; policy requires independent review for any future engagements to avoid conflicts .
Overall, Paramita Das brings additive commodities/ESG expertise and is appropriately independent, with committee roles aligned to GNK’s strategy and risk oversight. Ownership alignment should improve as she progresses toward director stock ownership guidelines; no conflicts are disclosed, and GNK’s policies provide guardrails against related-party risks .