Hudson Technologies Announces the Passing of CEO Kevin J. Zugibe
June 24 2020 - 4:10PM
Hudson Technologies, Inc. (NASDAQ: HDSN) today issued the following
statement: “It is with great sadness that we announce that Kevin J.
Zugibe, Chairman of the Board and Chief Executive Officer of Hudson
Technologies, Inc., passed away unexpectedly yesterday. The
entire Hudson family mourns this loss. On behalf of our Board
of Directors, management team and employees, we extend our deepest
sympathies to Kevin’s family. Kevin was our founder and an
industry pioneer who brought his remarkable passion, experience and
energy to Hudson.”
Vincent Abbatecola, Chairman of Hudson’s Audit
Committee, issued the following statement on behalf of the Board of
Directors: “With the passing of Kevin J. Zugibe, Hudson
Technologies has suffered a major loss. In accordance with
our adopted succession plan, Brian Coleman, our President and Chief
Operating Officer, will assume the duties of Chief Executive
Officer. Brian has the complete confidence of the Board of
Directors that he and the entire Hudson Technologies team will
continue Kevin Zugibe’s remarkable legacy.”
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider
of innovative and sustainable solutions for optimizing performance
and enhancing reliability of commercial and industrial chiller
plants and refrigeration systems. Hudson's proprietary
RefrigerantSide® Services increase operating efficiency, provide
energy and cost savings, reduce greenhouse gas emissions and the
plant’s carbon footprint while enhancing system life and
reliability of operations at the same time. RefrigerantSide®
Services can be performed at a customer's site as an integral part
of an effective scheduled maintenance program or in response to
emergencies. Hudson also offers SMARTenergy OPS®, which is a
cloud-based Managed Software as a Service for continuous
monitoring, Fault Detection and Diagnostics and real-time
optimization of chilled water plants. In addition, the Company
sells refrigerants and provides traditional reclamation services
for commercial and industrial air conditioning and refrigeration
uses. For further information on Hudson, please visit the Company's
web site at www.hudsontech.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
Statements contained herein which are not
historical facts constitute forward-looking statements. These
include statements regarding management’s intentions, plans,
beliefs, expectations or forecasts for the future including,
without limitation, Hudson’s expectations with respect to the
benefits, costs and other anticipated financial impacts of the ARI
transaction; future financial and operating results of the Company;
the Company’s ability to remain in compliance with the financial
covenants in its loan agreements; and the Company’s plans,
objectives, expectations and intentions with respect to future
operations and services. Such forward-looking statements involve a
number of known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to, changes in the laws and regulations affecting the
industry, changes in the demand and price for refrigerants
(including unfavorable market conditions adversely affecting the
demand for, and the price of, refrigerants), the Company's ability
to source refrigerants, regulatory and economic factors,
seasonality, competition, litigation, the nature of supplier or
customer arrangements that become available to the Company in the
future, adverse weather conditions, possible technological
obsolescence of existing products and services, possible reduction
in the carrying value of long-lived assets, estimates of the useful
life of its assets, potential environmental liability, customer
concentration, the ability to obtain financing, any delays or
interruptions in bringing products and services to market, the
timely availability of any requisite permits and authorizations
from governmental entities and third parties as well as factors
relating to doing business outside the United States, including
changes in the laws, regulations, policies, and political,
financial and economic conditions, including inflation, interest
and currency exchange rates, of countries in which the Company may
seek to conduct business, the Company’s ability to successfully
integrate any assets it acquires from third parties into its
operations, the impact of the current COVID-19 pandemic, and other
risks detailed in the Company's 10-K for the year ended December
31, 2019 and other subsequent filings with the Securities and
Exchange Commission. The words "believe", "expect",
"anticipate", "may", "plan", "should" and similar expressions
identify forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date the statement was made.
Company Contact:Brian F.
Coleman, President & COOHudson Technologies, Inc.(845)
735-6000bcoleman@hudsontech.com
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