E. Donald Terry has resigned as president and chief executive of Superior Offshore International Inc., Houston (Nasdaq: DEEP).
Thomas E. Damon has resigned as executive vice president and chief financial officer.
Steven J. Singer has resigned as executive vice president and general counsel.
Wayne M. Rose has resigned as senior vice president, commercial.
David Weinhoffer has been terminated as executive vice president.
James Perskey and Leon Codron have resigned from the board.
H. Malcolm Lovett, Jr. has been named chief restructuring officer and will assume the responsibilities as president. He is the controller of Strategic Capital Corp., which is providing financial advisory and restructuring services to Superior Offshore.
Superior Offshore has recently been sued by numerous law firms in various districts due to allegations that its April 2007 IPO was without adequate due diligence and that it failed to mention its core business in the Gulf of Mexico was in decline.
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