FEBRUARY 4, 2014 — In an SEC filing, tank barge giant Kirby Corporation says that its President – Marine Transportation Group, Gregory R. Binion, has informed the company that he is resigning from his position effective February 15, 2014 to pursue other interests.
In addition to compensation earned through the end of 2013, Kirby's Compensation Committee approved severance compensation for Mr. Binion in the amount of approximately $2,600,000 in cash, in part in lieu of accelerating the vesting of unvested stock options and restricted stock and in part in consideration for a two-year noncompetition agreement.
Mr. Binion was appointed as President - Marine Transportation Group of Kirby Corp., effective April 23, 2013. He had previously served as President and Chief Operating Officer from April 2011, served as President of Kirby Inland Marine from October 2008 to April 2011 and as Vice President of Corporate Development and Strategy from September 2007 to October 2008. He previously served as Kirby Inland Marine's VP — Sales from 2003 to 2007 and VP— Canal Operations from 1999 to 2003. He joined Kirby in October 1999 when it acquired Hollywood Marine where he had served for eleven years in a variety of sales and operational roles.