MISTRAS Group Announces Changes in Leadership
August 07 2017 - 4:01PM
MISTRAS Group, Inc. (NYSE:MG) announced that its Board of Directors
appointed Dennis Bertolotti as its President and Chief Executive
Officer (CEO), effective August 10, 2017, succeeding MISTRAS
founder and Chairman, Dr. Sotirios Vahaviolos. Dr. Vahaviolos will
remain active in the business as Executive Chairman, focusing on
strategy and technology, and will continue to lead the Board of
Directors. Mr. Bertolotti has also been elected to serve on the
MISTRAS Board of Directors commencing August 10, 2017.
Mr. Bertolotti joined MISTRAS in 2003, when MISTRAS acquired
Conam Inspection, where Bertolotti served as a Vice President, and
has served in various leadership and executive roles since then,
including President of the MISTRAS Services segment and most
recently serving as President and Chief Operating Officer of
MISTRAS Group. Mr. Bertolotti has over 30 years of experience in
the inspection and non-destructive testing industry, and prior to
moving into management and executive positions, held several
high-level certifications from the American Society for
Nondestructive Testing and the American Petroleum
Institute.
The MISTRAS Board also elevated Jonathan Wolk to the position of
Senior Executive Vice President and Chief Operating Officer, also
effective August 10. Mr. Wolk will continue serving as the
Company’s Chief Financial Officer (CFO) until a new CFO is
appointed.
Mr. Wolk joined MISTRAS as Executive Vice President and CFO in
November 2013 and became Senior Executive Vice President in 2016.
Prior to joining MISTRAS, Mr. Wolk served as Senior Vice President
and CFO for American Woodmark for almost 10 years, and served in
various executive and management positions before then.
Dr. Vahaviolos stated that, “The appointment of Dennis
Bertolotti as CEO is part of a succession plan that the Board and I
have been working on for several years. Dennis has proven he is
well-suited to take on the role of CEO. The past few years have
been very challenging for the inspection and asset integrity
industry, particularly in the oil and gas sector. Dennis’
leadership, knowledge of MISTRAS’ business, operations and
industry, and his strategic vision are key reasons MISTRAS has
remained profitable during these difficult times. MISTRAS and its
shareholders are fortunate to have someone as talented as Dennis as
our new CEO and I look forward to continuing to work closely with
him.”
Dr. Vahaviolos added, “Jon Wolk has done an excellent job in his
four years at MISTRAS to improve financial and operating
performance and profitability, continue to strengthen our balance
sheet, and make our operations and processes much more efficient
and cost-effective. Jon has been a great addition to our leadership
team from the first day he joined MISTRAS, and like Dennis, has
demonstrated the ability to lead and succeed during challenging
times in our industry.”
Mr. Bertolotti added, “I am honored to have been selected by
Sotirios and the Board to succeed Sotirios, who founded MISTRAS
nearly 40 years ago and has led the Company from its founding to
the successful public company it is today. Sotirios has been an
incredible mentor to me and to our entire team. Our success to date
is a reflection of his vision and persistence to always put the
Company and its customers first and I will continue to follow his
example.” Bertolotti added, “With the support of Sotirios, Jon and
the rest of the MISTRAS leadership team, I look forward to
continuing to build on our mission of being the leading one source
provider for asset protection solutions, not only non-destructive
testing, but also for mechanical, engineering, software and other
value-added services and products.”
About MISTRAS Group, Inc.
MISTRAS is a leading “one source” global provider of
technology-enabled asset protection solutions used to evaluate the
structural integrity of critical energy, industrial and public
infrastructure. Mission critical services and solutions are
delivered globally and provide customers with asset life extension,
improved productivity and profitability, compliance with government
safety and environmental regulations, and enhanced risk management
operational decisions.
MISTRAS uniquely combines its industry-leading products and
technologies - 24/7 on-line monitoring of critical assets;
mechanical integrity (MI) and non-destructive testing (NDT)
services; destructive testing (DT) services; process and fixed
asset engineering and consulting services; and its world class
enterprise inspection data management and analysis software (PCMS™)
to provide comprehensive and competitive products, systems and
services solutions from a single source provider.
For more information, please visit the company's website at
http://www.MISTRASgroup.com or contact Nestor S. Makarigakis,
Group Director, Marketing Communications at
marcom@MISTRASgroup.com.
Media Contact:
Nestor S. Makarigakis
Group Director of Marketing Communications
marcom@mistrasgroup.com
1(609)716-4000
Mistras (NYSE:MG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mistras (NYSE:MG)
Historical Stock Chart
From Jul 2023 to Jul 2024