US-listed NewLead Holdings announced on Tuesday the resignation of Michael Zolotas from his posts as chairman of the board of directors, president and chief executive officer. However, he remains NewLead’s biggest shareholder.
He is succeeded in all three posts by NewLead executive Anna Zolota, his cousin.
The resignation was due to “personal reasons… following recent developments in a strictly personal legal matter, which is wholly unrelated to NewLead,” the statement said.
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