Overseas Shipholding Group’s CEO Resigns (USA)

Overseas Shipholding Group, Inc. announced yesterday that Morten Arntzen has resigned as President and Chief Executive Officer and as a director of the Company.

Captain Robert Johnston will serve as the President and Chief Executive Officer of the Company effective immediately. Mr. Johnston has been the Senior Vice President and Head of U.S. Flag Strategic Business Unit.

“The Board thanks Morten Arntzen for his service, including during recent challenging times,” said Michael J. Zimmerman, Chairman of the Board of Directors of OSG. “The Board is pleased that Bob Johnston is available to lead the company through the next stages of its Chapter 11 reorganization.”

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OSG, February 12, 2013