James Perskey, Leon Codron, and E. Donald Terry have resigned from the Superior Offshore International Inc.'s board of directors. Terry has also resigned as president and CEO. Thomas E. Damon has resigned as executive vice president and CFO, and Steven J. Singer has resigned as executive vice president and general counsel. Wayne M. Rose has resigned as senior vice president - commercial and David Weinhoffer has been terminated as executive vice president; however Rose and Weinhoffer each have been rehired to assist in the wind-down process.

The board has appointed H. Malcolm Lovett, Jr. as a director and as its chief restructuring officer. Lovett will perform the duties and assume the responsibilities of the president of the company.

Strategic Capital Corp., a company controlled by Lovett, has been engaged to provide financial advisory and restructuring services to the company.

The company's board currently consists of Lovett and Eric Smith, and Lovett is the only executive officer.