The Board of Directors of Oceanic Research & Recovery, Inc. has appointed Michael Johnson as the new Chief Executive Officer of the company. Mr. Johnson has also been appointed to the Board of Directors. Mr. Johnson, a seasoned finance veteran with over 20 years in the private and public capital markets, will focus on funding sources, as well structuring and negotiating the financing. The Board also announced that Scott Heimdal will remain President and Chief Operating Officer and will primarily focus on existing and planned project development.