Zolotas Resigns from NewLead

October 26, 2016

NewLead Holdings Ltd. Announces the Resignation of Michail S. Zolotas as Chairman of the Board of Directors, President and Chief Executive Officer

HAMILTON, Bermuda, Oct. 25, 2016 /PRNewswire/ -- NewLead Holdings Ltd. announced today that Michail S. Zolotas has resigned from his role as Chairman of the Board of Directors, President and Chief Executive Officer of the Company for personal reasons, effective as of Wednesday, October 19, 2016. Mr. Zolotas remains the principal shareholder of NewLead.

Mr. Zolotas submitted his resignation to the Board of Directors as Chairman of the Board of Directors, President and Chief Executive Officer of the Company following recent developments in a strictly personal legal matter which is wholly unrelated to NewLead.

Mrs. Anna Zolota will assume the duties of the Chairman of the Board of Directors as well as of the President and Chief Executive Officer of NewLead. Mrs. Zolota joined the Company in 2009 as Senior Commercial Officer and Senior Insurance Officer, after ten years of experience in the shipping sector. Mrs. Zolota previously held the position of Vice President of the Commercial Department of NewLead.

Mrs. Zolota, stated: "NewLead will continue to reinforce its ability to operate in today's challenging shipping market conditions. We will carry-on enhancing the Company's platform to support NewLead's growth, through a dedicated team of people who ensure the overall efficient performance of our vessels, capitalizing on long-standing relationships across the board while adapting to today's difficult times for the global shipping industry."

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