Amir Vexler to
Succeed Daniel Poneman as CEO in 2024
BETHESDA, Md., Nov. 20,
2023 /PRNewswire/ -- Centrus Energy Corp (NYSE
American: LEU) announced today that Amir
Vexler will succeed Daniel B.
Poneman as Chief Executive Officer on January 1, 2024.
Mr. Poneman joined Centrus on March 5,
2015, and over the past eight years has overseen the
rebuilding of the Company's order book, strengthening the balance
sheet, and returning the Company to profitability in 2021. In
October, Centrus inaugurated the first new U.S.-owned uranium
enrichment plant to begin production in nearly 70 years and made
its first delivery to the U.S. Department of Energy earlier this
month. These achievements are reflected in the growth of the
company's total market capitalization 20-fold since 2015 to more
than $800 million today and returns
to shareholders almost five times higher than the S&P 500.
Mikel Williams, Chairman of the
Board of Directors, stated, "This transition comes at a time of
strength for Centrus. On behalf of the board and our
shareholders, I want to thank Dan for his outstanding leadership
over the past eight years. The selection of Amir Vexler to succeed Dan next year reflects
the culmination of our thorough succession planning process.
Amir has a demonstrated track record of success as a CEO and a
leader of nuclear fuel operations and is well-qualified to lead our
continued growth and development in the years ahead."
"From the moment I arrived in Washington as a summer intern in 1975, I
became deeply interested in the promise of nuclear energy and the
importance of America's global nuclear leadership – a cause that
has been the focus of my professional life ever since," Poneman
said. "These past eight years have represented the
culmination of that effort to restore America's domestic uranium
enrichment capability and leadership on the world stage. I am
proud of the extraordinary work our dedicated team has done to
strengthen our national security and build a domestic supply chain
to fuel a new generation of advanced reactors around the world. I
look forward to continuing to support the Company and its success
going forward."
"I am thrilled to be joining Centrus at a pivotal time for the
company and the industry," said Vexler. "With production of
High-Assay Low-Enriched Uranium beginning at the company's plant in
Ohio, Centrus is in prime position
to help fuel the future of nuclear energy. Centrus has
tremendous growth potential and a critical role to play in meeting
America's energy security and national security needs. I
can't wait to get started and look forward to what we will achieve
together."
Amir Vexler brings extensive
experience in the nuclear industry to Centrus, with a strong
background in manufacturing, engineering services, commercial
operations, and business development. He has served as
President and Chief Executive Officer of Orano USA since 2021, overseeing Orano's U.S. sales
of nuclear fuel, decommissioning services, used nuclear fuel
management, and medical isotopes as well as engineering and
technology services for the federal government. Previously,
he spent 20 years at General Electric Company, where he served
in a number of leadership positions, including Chief Executive
Officer, Chairman of the Board, and Chief Operating Officer of
Global Nuclear Fuels, a joint venture of GE and Hitachi in
Wilmington, North Carolina.
About Centrus Energy
Centrus Energy is a trusted supplier of nuclear fuel and
services for the nuclear power industry. Centrus provides value to
its utility customers through the reliability and diversity of its
supply sources – helping them meet the growing need for clean,
affordable, carbon-free electricity. Since 1998, the Company has
provided its utility customers with more than 1,750 reactor years
of fuel, which is equivalent to 7 billion tons of coal. With
world-class technical and engineering capabilities, Centrus is also
advancing the next generation of centrifuge technologies so that
America can restore its domestic uranium enrichment capability in
the future. Find out more at www.centrusenergy.com.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and the Private Securities Litigation Reform Act of
1995. In this context, forward-looking statements mean statements
related to future events, which may impact our expected future
business and financial performance, and often contain words such as
"expects", "anticipates", "intends", "plans", "believes", "will",
"should", "could", "would" or "may" and other words of similar
meaning. These forward-looking statements are based on information
available to us as of the date of this news release and represent
management's current views and assumptions. Forward-looking
statements are not guarantees of future performance, events or
results and involve known and unknown risks, uncertainties, and
other factors, which may be beyond our control.
For Centrus Energy Corp., particular risks and uncertainties
that could cause our actual future results to differ materially
from those expressed in our forward-looking statements include but
are not limited to the following which are, and will be, and any
worsening of the global business and economic environment as a
result; risks related to component failure which prevent plant
operations or HALEU production; risks related to the government's
inability to satisfy its obligations under the HALEU Operation
Contract including supplying government furnished equipment under
the HALEU Operation Contract and processing security clearances due
to a government shutdown or other reasons; risks related to whether
or when government funding or demand for high-assay low-enriched
uranium ("HALEU") for government or commercial uses will
materialize; risks related to (i) our ability to perform and absorb
costs under our agreement with the U.S. Department of Energy
("DOE") to deploy and operate a cascade of centrifuges to
demonstrate production of HALEU for advanced reactors (the "HALEU
Operations Contract"), (ii) our ability to obtain contracts and
funding to be able to continue operations and (iii) our ability to
obtain and/or perform under other agreements; risks that (i) we may
not obtain the full benefit of the HALEU Operation Contract and may
not be able or allowed to operate the HALEU enrichment facility to
produce HALEU after the completion of the HALEU Operation Contract
or (ii) the HALEU enrichment facility may not be available to us as
a future source of supply; risks related to actions, including
reviews, that may be taken by the U.S. government, the Russian
government, or other governments that could affect our ability to
perform under our contractual obligations or the ability of our
sources of supply to perform under their contractual obligations to
us; risks related to uncertainty regarding our ability to
commercially deploy a competitive enrichment technology; risks
related to the fact that we face significant competition from major
producers who may be less cost sensitive or are wholly or partially
government owned; risks related to the impact of government
regulation and policies including by the DOE and the U.S. Nuclear
Regulatory Commission; and other risks and uncertainties discussed
in this and our other filings with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
news release. These factors may not constitute all factors that
could cause actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. Readers
are urged to carefully review and consider the various disclosures
made in this news release and in our other filings with the SEC,
including our Annual report on Form 10-K for the year ended
December 31, 2022, and our other
filings with the SEC that attempt to advise interested parties of
the risks and factors that may affect our business. We do not
undertake to update our forward-looking statements to reflect
events or circumstances that may arise after the date of this news
release, except as required by law.
Contacts:
Investors: Dan Leistikow at
LeistikowD@centrusenergy.com
Media: Lindsey Geisler at
GeislerLR@centrusenergy.com
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SOURCE Centrus Energy Corp.