SEATTLE–(BUSINESS WIRE)–SeaBright Holdings, Inc. (NYSE:SBX) announced today that it has expanded its Board of Directors and appointed Clifford Press to fill the resulting vacancy effective as of December 23, 2011. Mr. Press is a managing member of Oliver Press Partners, LLC, a New York based investment fund. John Pasqualetto, Chairman, President and Chief Executive Officer of the Company, stated that “OPP has a long history of working on behalf of shareholders. We welcome Mr. Press to the Board. Given his depth of experience and knowledge, we believe he will prove to be a valuable addition for all shareholders.”
Mr. Press has been a managing member of Oliver Press Partners, LLC, an investment advisory firm, since March 2005. Prior to 1986 he was employed as an investment banker at Morgan Stanley & Co., Incorporated. From 1986 to March 2003, Mr. Press was a General Partner of Hyde Park Holdings, Inc., a private equity investment firm. Mr. Press received his MA degree from Oxford University and an MBA degree from Harvard Business School. He is also a director of GM Network Ltd., a private holding company providing Internet-based digital gold currency services.