Energy Recovery Announces Leadership Transition
24 Outubro 2023 - 5:32PM
Business Wire
Appoints David Moon Interim CEO
Energy Recovery, Inc. (Nasdaq: ERII) today announced Mr. David
Moon, a current member of the Energy Recovery Board of Directors,
has been appointed interim Chief Executive Officer, effective
immediately. Mr. Bob Mao will remain a member of the Board, and Ms.
Pamela Tondreau, current Lead Independent Director, has been
elected as the new Chairperson of the Board. A comprehensive search
process to identify a permanent President and Chief Executive
Officer, which includes internal and external candidates, has been
underway with the assistance of a leading executive search
firm.
"The Board has firm conviction in Energy Recovery’s long-term
potential and is confident Mr. Moon is the right leader for this
moment of transition, alongside the rest of the management team,”
said Ms. Tondreau. “The Board will work closely with the management
team to ensure this transition is seamless for Energy Recovery’s
shareholders, customers, employees, and suppliers.”
Ms. Tondreau continued, “The Board thanks Mr. Mao for his
leadership in developing the concept of our PX technology as a
platform. This change in leadership reflects the company’s changing
needs as we progress into our next phase of growth, scaling the
commercialization of our offerings in refrigeration and wastewater
treatment.”
“Energy Recovery’s position as a global leader in energy
efficiency technology reflects the hard work of our incredible
team. I am honored to serve in this role at such an important time
for the business, and I look forward to working alongside the Board
and our team to help the company reach its full potential,” said
Mr. Moon.
Mr. Moon joined Energy Recovery’s Board of Directors in July
2023 and brings with him a wealth of senior leadership experience
developing and commercializing technologies with a focus in the
heating and cooling industry. Mr. Moon previously served as
President of Carrier Commercial Refrigeration (CCR), a division of
Carrier Global Corporation. CCR is a leading supplier of
high-efficiency CO2 turnkey refrigeration systems and services to
the food retail, processing, and storage segments and
pharmaceutical segment in EMEA and Asia. Prior to that, Mr. Moon
worked as an Advisor for Ares Management LLC on the acquisition of
CoolSys and joined the CoolSys Board of Directors
post-acquisition.
Mr. Moon was President and Chief Operating Officer of Heatcraft
Worldwide Refrigeration, a division of Lennox International, Inc.,
from 2006 to 2017. Heatcraft was the global OEM leader in
commercial refrigeration equipment. Mr. Moon joined Lennox
International, Inc. in 1998 holding various management positions in
the United States, Singapore, and Australia. Mr. Moon also
previously served as various management positions at Allied Signal,
Inc., Case Corporation, and Tenneco Oil Company in the United
States, Hong Kong, Taiwan, and Germany. Mr. Moon also served on the
Board of Directors of American Woodmark Corporation from 2015 to
2020.
About Energy Recovery
Energy Recovery (Nasdaq: ERII) is a trusted global leader in
energy efficiency technology. Building on our pressure exchanger
technology platform, we design and manufacture reliable,
high-performance solutions that generate cost savings and increase
energy efficiency across several industries. With a strong
foundation in the desalination industry, Energy Recovery has
delivered transformative solutions that optimize operations and
deliver positive environmental impact to our customers worldwide
for more than 30 years. Headquartered in the San Francisco Bay
Area, Energy Recovery has manufacturing and research and
development facilities across California and Texas with sales and
on-site technical support available globally. For more information,
please visit energyrecovery.com.
Forward Looking Statements
Certain matters discussed in this press release are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended These forward-looking
statements are based on information currently available to us and
on management's beliefs, assumptions, estimates, or projections and
are not guarantees of future events or results. Potential risks and
uncertainties and any other factors that may have been discussed
herein regarding the risks and uncertainties of the Company's
business, and the risks discussed under "Risk Factors" in the
Company's Form 10-K filed with the U.S. Securities and Exchange
Commission ("SEC") for the year ended December 31, 2022 as well as
other reports filed by the Company with the SEC from time to time.
Because such forward-looking statements involve risks and
uncertainties, the Company's actual results may differ materially
from the predictions in these forward-looking statements. All
forward-looking statements are made as of today, and the Company
assumes no obligation to update such statements.
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