MCLEAN RELATIVES JOIN TRAILER BRIDGE’S BOARD

MCLEAN RELATIVES JOIN TRAILER BRIDGE’S BOARD    Two relatives of the late Malcom P. McLean, the founder of Sea-Land and known as “the father of containerization,” will join the board of directors of Trailer Bridge, a company that he founded.
   McLean died in May of last year. Trailer Bridge announced that Peter S. Shaerf has joined the board of Trailer Bridge and that Malcom P. McLean, Jr., Greggory B. Mendenhall and F. Duffield Meyercord will join its board of directors, effective May 29.
   McLean Jr. is the son of Malcom P. McLean. Mendenhall is McLean Jr.’s brother-in-law.
   McLean Jr. is president of MPM Properties, Inc., a commercial real estate development company in Alabama. Since 1987, he has owned and managed various businesses in the restaurant and real estate field. From 1978 to 1986, McLean Jr. worked in various capacities at U.S. Lines, where he was president from 1984 to 1986. He joins the board of Trailer Bridge as part of the previously announced $4 million transaction with an affiliate. He is a director of Kadampanattu Corp., an affiliate that charters two vessels to Trailer Bridge.
   Mendenhall is the managing partner of the New York office of Schnader, Harrison, Segal & Lewis LLP. His areas of practice include maritime, asset-based finance, business counseling and legislative and administrative matters. He also joins the board as part of the previously announced $4 million transaction with an affiliate. Mendenhall’s wife, Patricia McLean Mendenhall, is a director of Kadampanattu Corp.
   Shaerf is a senior vice president of American Marine Advisors, Inc., an investment bank specializing in the maritime industry.
   Meyercord is the managing director of Carl Marks Consulting Group, a New York-based turnaround firm.
   In a related development, Trailer Bridge said that it has amended its financing agreement with GE Capital. “The amendment with GE Capital waives past non-compliance with certain covenants and establishes new financial covenants that the company is confident it will remain in compliance with,” Trailer Bridge said.