Navios Maritime Holdings Inc. announced several senior leadership changes effective as of January 1, 2015. Shunji Sasada has been promoted to President of Navios Corporation and appointed as a member of the board of Navios Holdings. Mr. Sasada has served Navios in various capacities over the past 17 years, most recently as Chief Operating Officer of Navios Corporation and as a director, since their formation, of both Navios Maritime Partners L.P. and Navios Maritime Midstream Partners L.P. Ted C. Petrone has been appointed as Vice Chairman of Navios Corporation.

During his 34 years of employment at Navios, Mr. Petrone served in various capacities most recently as President and a member of the board of Navios Holdings and Navios Maritime Acquisition Corporation. Mr. Petrone will continue to serve on the board of Navios Acquisition. In addition, Tom Beney has joined Navios Corporation as Senior Vice President of Commercial Affairs, where he will work to further strengthen and promote Navios' trading and commercial activities.

For the past 15 years, Mr. Beney worked at various capacities at Cargill, most recently as President of Cargill Ocean Transportation USA.