Harold Simmons changed his Sea-Land strategy.

In a letter to the U.S. Department of Transportation, the financier said he will not try to gain control of New Jersey-based Sea-Land Corp. by stock ownership but will opt instead to take over the firm through the election of new board members. Simmons wrote that it is his “intention to postpone further stock purchases” and that he will push for three new directors on the board of the East Coast shipping company. Simmons owns 39.5% of Sea-Land’s common stock.