UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
____________January 24, 2007_______________
Date of Report (Date of Earliest Event Reported)
Commission file number – 2-63322
INTERNATIONAL SHIPHOLDING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
36-2989662
(State or other jurisdiction of
(I.R.S. Employer Identification Number)
incorporation or organization)
650 Poydras Street
New Orleans, Louisiana
70130
(Address of principal executive offices)
(Zip Code)
(504) 529-5461
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Comensatory Arrangements of Certain Officers.
5.02 (b) At the Board of Directors meeting of International Shipholding Corporation held January 24, 2007, Mr. Erik F. Johnsen announced he would be stepping down as Chairman of the Board and Chief Executive Officer as of the 2007 Shareholder’s meeting scheduled for April 24.
5.02 (c) At the Board of Directors meeting of International Shipholding Corporation held January 24, 2007, the Board approved the following succession plan that will be effective as of the 2007 Shareholder’s meeting scheduled for April 24. Mr. Niels M. Johnsen will assume the position of Chairman of the Board and Chief Executive Officer and Mr. Erik L. Johnsen will succeed Mr. Niels M. Johnsen as President.
Mr. Niels M. Johnsen joined Central Gulf in 1970 and held various positions before being named President of the Corporation in 2003. He also serves as Chairman of each of the Corporation’s principal subsidiaries, except Waterman Steamship Corporation for which he serves as President. Mr. Niels M. Johnsen is the son of Mr. Niels W. Johnsen who currently serves on the Board of Directors of International Shipholding and nephew of Mr. Erik F. Johnsen who is stepping down as the current Chairman and Chief Executive Office. Mr. Niels M. Johnsen is 61 years of age.
Mr. Erik L. Johnsen joined Central Gulf in 1979 and held various positions before being named Vice President in 1987. In 1997 he was named Executive Vice President of the Corporation and President of each of the Corporation’s principal subsidiaries, except Waterman Steamship Corporation for which he serves as Executive Vice President. Mr. Erik L. Johnsen is the son of Mr. Erik F. Johnsen and nephew of Mr. Niels W. Johnsen. Mr. Erik L. Johnsen is 49 years of age.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
INTERNATIONAL SHIPHOLDING CORPORATION
/s/ Manuel G. Estrada
_____________________________________________
Manuel G. Estrada
Vice President and Chief Financial Officer
Date ____January 30, 2007____
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