Corporate Governance

Board of Directors

Below are the directors and executive officers of the Company as of October 28, 2009. Directors are elected by the shareholders for one-year terms. Executive officers serve at the pleasure of the Board of Directors (the “Board”).

Niels M. Johnsen
Niels M. Johnsen, 63, is the Chairman and Chief Executive Officer of the Company. Niels M. Johnsen has served as a Director of the Company since April of 1988. Niels M. Johnsen joined Central Gulf on a full time basis in 1970 and held various positions with the Company, including President between April of 2003 and April of 2007, when he assumed his current positions as Chairman and Chief Executive Officer. He also serves as chairman of each of the Company’s principal subsidiaries, except N.W. Johnsen & Co., Inc., which he serves as President. In 2002, he became a trustee and director of Atlantic Mutual Companies. He is the son of Niels W. Johnsen.

Erik L. Johnsen
Erik L. Johnsen, 51, is President of the Company. Erik L. Johnsen has served as a Director of the Company since 1994. He joined Central Gulf in 1979 and held various positions with the Company, including Executive Vice President between April of 1997 and April of 2007, when he assumed his current position as President. He also serves as the President of each of the Company’s principal subsidiaries. He is responsible for all operations of the Company’s vessel fleet and leads the Company’s Ship Management Group. He is the son of Erik F. Johnsen.

Erik F. Johnsen
Erik F. Johnsen, 83, is a Director of the Company. He served as the President, Chief Operating Officer, and Director of the Company from its commencement of operations in 1979 until April of 2003, and Chairman and Chief Executive Officer of the Company between April of 2003 and April of 2007. Until April of 1997, Mr. Johnsen also served as the President and Chief Operating Officer of each of the Company’s principal subsidiaries, except Waterman, for which he served as Chairman of the Executive Committee. Along with his brother, Niels W. Johnsen, he was one of the founders of Central Gulf in 1947 and served as its President from 1966 until April of 1997.

Edwin A. Lupberger
Edwin A. Lupberger, 72, has served as a Director of the Company since 1988. In 2003 he was named Chairman of the Audit Committee of the Board of Directors, and in 2008 was named Chairman of the Compensation Committee of the Board of Directors. He is the President of Nesher Investments, LLC. Mr. Lupberger served as the Chairman of the Board and Chief Executive Officer of Entergy Corporation from 1985 to 1998.

H. Merritt Lane III
H. Merritt Lane III, 47, has served as a Director of the Company since 2004. He has served as President and Chief Executive Officer of Canal Barge Company, Inc., since 1994 and as director of that company since 1988.

T. Lee Robinson, Jr.
T. Lee Robinson, Jr., 46, has served as a Director of the Company since April 30, 2008. He is the President of OHC, Inc., a family owned import/export hardwood lumber company specializing in industrial wooden components for the transportation and utility industries.

James J. McNamara
James J. McNamara, 66, has served as a Director of the Company since July 30, 2008. He is the President of  National Cargo Bureau, Inc., a non-profit organization that provides inspection services and surveys that are incidental to the loading and unloading of vessels.

Kenneth H. Beer
Kenneth H. Beer, 52, has served as a Director of the Company since 2009. He currently serves as Senior Vice President and Chief Financial Officer of Stone Energy Corporation. Previously, Mr. Beer was a partner at the investment banking firm of Johnson Rice & Company.

Harris V. Morrissette
Harris V. Morrissette, 50, has served as a Director of the Company since 2009. He currently serves as President of China Doll Rice and Beans, Inc. and Chairman of Azalea Aviation Inc. Previously, Mr. Morrissette served as CEO of Marshall Biscuit Company, Inc.

Board Committees

International Shipholding Corporation’s Board of Directors has three standing committees, the Audit Committee, the Compensation Committee, and the Nominating and Governance Committee, that operate under written charters adopted by the Board.  The Audit, Compensation, and the Nominating and Governance Committees are each composed of the same four directors, who are all independent under the NYSE listing standards, including Messrs. Lane, Robinson, Lupberger, and McNamara.  

Charters

Audit Committee Charter
Compensation Committee Charter
Nominating and Governance Committee Charter

Corporate Governance Guidelines
Code of Business Conduct and Ethics for Officers, Directors and Employees