Navios Maritime Holdings Inc. (NYSE: NM) owns a controlling equity stake in Navios South American Logistics Inc., one of the largest infrastructure and logistics companies in the Hidrovia region of South America and a substantial interest in Navios Maritime Partners L.P., a leading US publicly listed shipping company which owns and operates dry cargo and tanker vessels.
Statement of Significant Differences Between the Corporate Governance Practices of Navios Maritime Holdings Inc., a Marshall Islands company, and the Corporate Governance Standards of the New York Stock Exchange, Inc. (the 'NYSE').
Pursuant to an exception for foreign private issuers, we are not required to comply with the corporate governance practices followed by U.S. companies under the NYSE listing standards. However, pursuant to Section 303.A.11 of the NYSE Listed Company Manual, we are required to state any significant differences between our corporate governance practices and the standards required by the NYSE. In order to provide adequate protection to our shareholders, we have voluntarily adopted all of the NYSE required practices, except that as permitted under Marshall Island law we do not need prior shareholder approval to adopt or reuse equity compensation plans, including our 2015 Equity Incentive Plan.