Safe Bulkers Inc. (NYSE: SB) expanded its board of directors from nine to eleven members and appointed Jeffrey Bunzel and Vassilis Hajioannou to the new positions, effective immediately.

The board determined that Bunzel meets NYSE independence standards and appointed him to serve on the Corporate Governance, Nominating and Compensation Committee, the Environmental, Social and Corporate Governance Committee and the Audit Committee.

Bunzel brings more than 30 years of experience in investment banking and capital markets. He served as Managing Director and Head of Equity Capital Markets at Deutsche Bank AG for 14 years and was Managing Director at Credit Suisse from 1994 to 2012. Bunzel holds a bachelor's degree from the University of California, Berkeley and a Master of Arts from the Fletcher School of Law and Diplomacy.

Hajioannou has experience in operations and chartering departments. He holds a bachelor's degree in marine engineering and a master's degree in shipping and logistics from Newcastle University in the United Kingdom.

The appointments were made on the recommendation of the Corporate Governance, Nominating and Compensation Committee, according to the company's statement.

Safe Bulkers provides marine dry-bulk transportation services, transporting grain, coal and iron ore along worldwide shipping routes. The company's common stock trades on the NYSE under the symbol SB.