On October 15, 2012 Jung Yong (John) Lee, Co- Chief Executive Officer and Co-President of Leo Motors Inc., resigned his position as interim Chief Financial Officer and the board appointed Ho Seok (Bruce) Lee as both the new CFO and as a member of the board of directors. Prior to his positions with the company, Mr. Lee was an intelligence and operation analyst for the R.O.K.-U.S. Combined Forces Command from 2006 through 2008 in Seoul, Korea where his primary role involved validating intelligence and the reliability of sources. From 2010 until 2011 Mr. Lee was a Business Development Assistant for GeoChem Remediation LLC, in New York, where his primary roles involved coordinating product alteration/development and clientele support.

Also on October 15, 2012, the company appointed Jun Heng Park as Co-Chief Executive Officer and as Co-President. Mr. Park has been a director of the company since October 15, 2012 and has led the company with regards to its business planning and strategy since his appointment. Mr. Park was Chief Executive Officer of Unitech Co.

Ltd., a computer assembly company in Korea from 2009 to 2010.