Westport Fuel Systems Announces New Chief Financial Officer
May 31 2018 - 5:05PM
Westport Fuel Systems Inc. ("
Westport Fuel
Systems") (TSX:WPRT) (Nasdaq:WPRT) today announced the
appointment of Mike Willis as Chief Financial Officer
("
CFO") effective June 11, 2018. Ashoka
Achuthan, Westport Fuel Systems current CFO, will step down from
his position but continue to serve as an advisor to the leadership
team through a transition period.
Mr. Willis has had a distinguished career in corporate finance,
private equity and investment banking, with unique expertise in the
renewable energy sector. Prior to joining Westport Fuel Systems, he
served as CFO of Gevo, Inc., a Nasdaq-listed renewable chemical and
advanced biofuels company, from 2013 to 2018. He joined Gevo in
2012 as Executive Vice President of Corporate Development &
Strategy. Prior to Gevo, Mr. Willis served as Operating Principal
at Virgin Green Fund, a growth equity fund focused on the renewable
energy and resource efficiency sectors, from 2007 to 2013. From
2005 to 2007, Mr. Willis was part of the Virgin Group, initially
joining as Investment Manager of Virgin Management Limited and
later as Principal of Virgin Fuels. He worked in corporate
development, finance, and strategy roles assisting several of
Virgin’s portfolio companies in executing their growth strategies
and corporate finance transactions at senior management and board
levels. Mr. Willis’ career also covers private equity and
investment banking roles in the United States and Canada, working
with companies spanning the retail, consumer products,
manufacturing, services and technology sectors. He holds an MBA
from INSEAD in France and a Bachelor of Commerce from Queen’s
University in Canada.
“We are delighted to have Mike join Westport Fuel Systems as
CFO,” said Nancy Gougarty, Chief Executive Officer of Westport Fuel
Systems. “Mike brings excellent credentials in both public and
private capital markets, a proven track record of financial
stewardship and an extensive knowledge in the renewable energy
sector. Mike will be an asset to the company as we continue to
advance our position within the alternative fuel market and execute
on our path towards profitability.”
“Westport Fuel Systems is at a pivotal stage of becoming a
profitable, sustainable company, by leveraging its core strengths
of technology leadership and market innovation,” said Mr. Willis.
“I am excited to be joining the company’s team of passionate,
dedicated experts, who are constantly striving to maximize the
value of the company’s existing technology platforms, while
concurrently pursuing innovative opportunities amid global
environmental challenges. I look forward to playing a key role as
the company moves into its next stage of growth and value creation
for its stakeholders.”
“On behalf of our Board, our executive team, and our employees I
want to thank Ashoka for his leadership contributions over the past
five years,” Gougarty continued. “Ashoka has pivoted us through
various critical moments while continuously improving our
operational results and capital structure, leading up to the
commercialization of Westport HPDI 2.0™. We are grateful for his
dedication and wish him the best as he relocates to his
family.”
About Westport Fuel SystemsAt
Westport Fuel Systems, we are driving innovation to power a cleaner
tomorrow. We are inventors, engineers, manufacturers and suppliers
of advanced clean fuel systems and components that can change the
way the world moves. Our technology delivers performance, fuel
efficiency and environmental benefits to address the challenges of
global climate change and urban air quality. Headquartered in
Vancouver, Canada, we serve our customers in more than 70 countries
with leading global transportation brands. At Westport Fuel
Systems, we think ahead. For more information, visit
www.wfsinc.com.
Investor Inquiries: Caroline SawamotoSenior
Manager, Investor Relations & Communications Westport Fuel
SystemsT: +1 604-718-2046invest@wfsinc.com
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