DALLAS, Aug. 8, 2022
/PRNewswire/ -- CECO Environmental Corp. (Nasdaq: CECE)
("CECO"), a leading environmentally focused, diversified
industrial company whose solutions protect people, the environment,
and industrial equipment, today announced Matthew Eckl, Chief Financial Officer, and
Pamela Turay, Senior Vice President
– Human Resources will be leaving the company in August to pursue
other opportunities. Eckl had been with the company since 2017 and
Turay since 2018.
Effective Aug. 15, 2022,
Peter Johansson will join CECO as
Chief Financial and Strategy Officer. CECO's current General
Counsel Lynn Watkins-Asiyanbi will
assume the newly created role of Chief Administrative and Legal
Officer, which incorporates the legal, human resources and
corporate communication functions.
"Matt and Pam have been valuable members of the CECO leadership
team and have helped the organization advance in many important
areas," said Todd Gleason, Chief
Executive Officer, CECO
Environmental. "CECO is stronger because of their efforts,
and we wish them success in their future endeavors."
Eckl commented, "I'm privileged to have been a part of such
an incredible team and I'm proud of our achievements during my
tenure with CECO. The company is in a great position, and I am
committed to supporting a smooth transition."
"I'm excited to welcome Peter to CECO as our next Chief
Financial and Strategy Officer. He brings a significant amount of
financial, business development and strategy experience to our
organization at the perfect time for us as we believe that we are
truly gaining momentum toward our ongoing transformation," added
Gleason. "Additionally, broadening Lynn's role as our Chief
Administrative and Legal Officer will unlock new processes and
perspectives to align our functional excellence with our business
strategies and growth deployment goals. We expect these important
leadership changes further advance our progress and execution of
the CECO's strategic plan to create long-term value for our
stockholders."
Johansson has more than 30 years of diverse industrial business
experience with companies such as Accudyne Industries, IDEX
Corporation, ITT Corporation, Trane Technologies, WABCO, Honeywell
and AlliedSignal. He has led complex organizations through
transformational growth, and brings new perspectives and
capabilities around financial analysis, capital market programs and
leading concepts with respect to business development programs and
operational effectiveness. Since October
2021, Johansson has worked with CECO as a consultant,
assisting the leadership team with evaluating market strategies and
business development opportunities.
Watkins-Asiyanbi joined CECO in June
2022 as Senior Vice President, General Counsel and Corporate
Secretary. She has over 25 years of industrial business experience,
with global industrial companies such as John Bean Technologies,
W.W. Grainger, Inc. U.S. Foods, Inc., Mars, Inc., and General
Mills. Watkins has a multitude of experience and skills,
particularly with mergers and acquisitions, manufacturing
operations, ethics, corporate governance, CSR and ESG, and
financial and regulatory compliance.
ABOUT CECO ENVIRONMENTAL
CECO Environmental is a leading environmentally focused,
diversified industrial company, serving a broad landscape of
industrial air, industrial water and energy transition markets
across the globe through its key business segments: Engineered
Systems and Industrial Process Solutions. Providing innovative
technology and application expertise, CECO helps companies grow
their business with safe, clean, and more efficient solutions that
help protect people, the environment and industrial equipment. In
regions around the world, CECO works to improve air quality,
optimize the energy value chain, and provide custom solutions for
applications including power generation, petrochemical processing,
general industrial, refining, midstream oil and gas, electric
vehicle production, poly silicon fabrication, battery recycling,
beverage can, and water/wastewater treatment along with a wide
range of other applications. CECO is listed on Nasdaq under the
ticker symbol "CECE." Incorporated in 1966, CECO's global
headquarters is in Dallas, Texas.
For more information, please visit www.cecoenviro.com.
Media Contact:
Kimberly Plaskett, Corporate
Communications
kplaskett@onececo.com
Investor Relations Contact:
Steven Hooser or Gary Guyton
Three Part Advisors, LLC
214-872-2710
investor.relations@onececo.com
SAFE HARBOR
Any statements contained in this Press Release, other than
statements of historical fact, including statements regarding the
benefits from changes to our leadership team, our business strategy
and plans, market growth, and our objectives for future operations,
are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, both as amended, and should be evaluated as
such. These statements are made on the basis of management's views
and assumptions regarding future events and business performance.
We use words such as "believe," "expect," "anticipate," "intends,"
"estimate," "forecast," "project," "will," "plan," "should" and
similar expressions to identify forward-looking statements.
Forward-looking statements involve risks and uncertainties that may
cause actual results to differ materially from any future results,
performance or achievements expressed or implied by such
statements. Potential risks and uncertainties, among others, that
could cause actual results to differ materially are discussed under
"Part I – Item 1A. Risk Factors" of the Company's Annual Report on
Form 10-K for the fiscal year ended December
31, 2021, and include, but are not limited to: the
sensitivity of our business to economic and financial market
conditions generally and economic conditions in CECO's service
areas; dependence on fixed price contracts and the risks associated
therewith, including actual costs exceeding estimates and method of
accounting for revenue; the effect of growth on CECO's
infrastructure, resources, and existing sales; the ability to
expand operations in both new and existing markets; the potential
for contract delay or cancellation as a result of on-going or
worsening supply chain challenges; liabilities arising from faulty
services or products that could result in significant professional
or product liability, warranty, or other claims; changes in or
developments with respect to any litigation or investigation;
failure to meet timely completion or performance standards that
could result in higher cost and reduced profits or, in some cases,
losses on projects; the potential for fluctuations in prices for
manufactured components and raw materials, including as a result of
tariffs and surcharges; the substantial amount of debt incurred in
connection with our strategic transactions and our ability to repay
or refinance it or incur additional debt in the future; the impact
of federal, state or local government regulations; our ability to
repurchase shares of our common stock and the amounts and timing of
repurchases, if any; economic and political conditions generally;
our ability to successfully realize the expected benefits of our
restructuring program; our ability to successfully integrate
acquired businesses and realize the synergies from strategic
transactions; and unpredictability and severity of catastrophic
events, including cyber security threats, acts of terrorism or
outbreak of war or hostilities or public health crises, such as
uncertainties regarding the extent and duration of impacts of
matters associated with the novel coronavirus ("COVID-19"), as well
as management's response to any of the aforementioned factors. Many
of these risks are beyond management's ability to control or
predict. Should one or more of these risks or uncertainties
materialize, or should the assumptions prove incorrect, actual
results may vary in material aspects from those currently
anticipated. Investors are cautioned not to place undue reliance on
such forward-looking statements as they speak only to our views as
of the date the statement is made. Furthermore, forward-looking
statements speak only as of the date they are made. Except as
required under the federal securities laws or the rules and
regulations of the Securities and Exchange Commission, we undertake
no obligation to update or review any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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SOURCE CECO Environmental Corp.