Horizon Lines Names Sam Woodward President and Chief Eexecutive Officer

News Release Horizon Lines, Inc. (Corporate Headquarters) June 8, 2012

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Appointment Follows
Annual Stockholder Meeting 
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style="FONT-FAMILY: Arial,Helvetica,sans-serif; FONT-SIZE: 10pt">CHARLOTTE,
NC (June 7, 2012) --- Horizon Lines, Inc. (OTCQB: HRZL), one of
the nation's leading domestic ocean shipping companies, today announced
that Sam Woodward has joined the company as President and Chief Executive
Officer (CEO) and has been appointed to the company's Board of Directors,
effective June 7, 2012.   Mr. Woodward succeeds
Stephen H. Fraser, who has served as interim President and CEO since March
2011, and who will also step down from the company's Board of Directors,
effective June 7, 2012.    
 "We are delighted that Sam has chosen to join Horizon Lines
as President and CEO," said Jeffrey A. Brodsky, Chairman of the Board of
Directors. "Sam brings extensive transportation and logistics experience,
and is known for his leadership abilities as a business strategist focused
on operational transformation and excellence.  He has a
strong track record of success in a career that has spanned multiple
companies over more than 30 years.  Sam's proven
leadership abilities will be an asset to management and the Board, as
Horizon Lines moves forward in the years ahead.
 
"We also want to
thank Stephen for his leadership of Horizon Lines as interim President and
CEO over the past 15 months," Mr. Brodsky said. "Stephen successfully
shepherded Horizon through a very challenging period. We wish Stephen well
in his future endeavors and we are confident this transition will be a
seamless one for our customers and other stakeholders." 

 
Mr. Woodward, 63,
joins Horizon Lines from Traffic Tech Inc., an international freight
forwarder, where he held several executive leadership roles.
 He also served as a managing director of Bengur Bryan
& Co., a middle market investment bank, where since 2008 he headed the
firm's Transportation and Business Process Outsourcing
Practice.  From 2004 to 2008, Mr. Woodward was Chairman,
President and CEO of Gemini Air Cargo, Inc.   Prior
to Gemini, Mr. Woodward was president of SAW Investment Services, his own
investment firm, where he oversaw investment and management services in
the U.S. freight- and logistics-based technology markets. 
From 1994 to 1999, Mr. Woodward served at YRC Worldwide as Senior
Vice President, Operations and Planning, managing operations and strategy
of the company's portfolio of transportation and logistics
companies.  
 
"I look forward to
working with the many talented and dedicated associates and stakeholders
of Horizon Lines, as we move forward to grow the business in our three
core trade lanes," Mr. Woodward said. 
 
Annual Stockholder
Meeting Results
 
Mr. Woodward was
appointed President and CEO, as well as a Director, at a meeting of the
Board of Directors that followed the company's 2012 annual stockholder
meeting today.  At the annual meeting, shareholders
elected Mr. Brodsky, Kurt M. Cellar and David N. Weinstein Class I
Directors, and ratified the appointment of Ernst & Young, LLP as the
company's independent registered public accounting firm for the fiscal
year ending December 23, 2012.  Additionally,
shareholders provided a non-binding advisory vote approving the
compensation paid to the company's named executive officers.
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