ClearStream Announces the Appointment of a New CFO
November 14 2018 - 8:35PM
ClearStream Energy Services Inc. (“ClearStream” or the “Company”)
(TSX: CSM) announces today the appointment of Randy Watt as its
Chief Financial Officer (“CFO”). Mr. Watt is a senior executive
with a 25-year track record of leading and working with successful
national and global organizations, having previously served as the
CFO of Access Pipeline Inc., a mid-size Calgary-based pipeline and
transportation company. During his tenure at Access Pipeline Inc.,
Mr. Watt led the business transformation to execute the company’s
strategic investments and improve its profitability.
ClearStream’s CEO Yves Paletta commented: “We
are pleased to welcome Randy as our new CFO. With the addition of
Mr. Watt’s vast experience in solving companies’ growth challenges
both organically and through acquisitions, we are confident in the
ability of our experienced management team to lead ClearStream into
a new phase of profitable growth.”
Mr. Watt added: “I am excited for the
opportunity to be joining the Executive Team at ClearStream as it
continues on its path of strategic growth initiatives. I look
forward to supporting the business transformation to the next
level, as ClearStream seeks to expand its scope of services and
geographical footprint with more value-added solutions and
technologies.”
Mr. Watt brings experience in strategic
financial management with a focus on growth, strong business
processes, and operational execution. Prior to his CFO role at
Access Pipeline Inc., Mr. Watt was a leader in Deloitte and PwC and
an advisor to Executives and CFOs of large Canadian and Global
organizations, solving their most critical challenges, including
mergers and acquisition integration, balance sheet optimization,
and performance management to drive shareholder value.
About ClearStream Energy Services
Inc.
With a legacy of excellence and experience
stretching back more than 50 years, ClearStream provides solutions
to the Energy and Industrial markets including: Oil & Gas,
Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure
and Water Treatment. With offices strategically located across
Canada and over 3,000 employees, we provide maintenance,
construction and environmental services that keep our clients
moving forward. For more information about ClearStream, please
visit www.ClearStreamEnergy.ca.
Forward Looking Statement
Certain information included in this press
release may constitute forward-looking information within the
meaning of securities laws. In some cases, forward-looking
information can be identified by terminology such as “may”, “will”,
“should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”,
“predict”, “potential”, “continue” or the negative of these terms
or other similar expressions concerning matters that are not
historical facts.
Forward-looking information involves significant
risks and uncertainties. A number of factors could cause actual
events or results to differ materially from the events and results
discussed in the forward-looking information including risks
related to integration risk, conditions of capital markets,
economic conditions, dependence of key personnel, interest rates,
regulatory change, ability to meet working capital requirements and
capital expenditure needs, factors relating to the weather and
availability of labour. These factors should not be considered
exhaustive. Risks and uncertainties about ClearStream’s business
are more fully discussed in ClearStream’s disclosure materials,
including its annual information form and MD&A, filed with the
securities regulatory authorities in Canada and available at
www.sedar.com. In formulating forward-looking information herein,
management has assumed that business and economic conditions
affecting ClearStream will continue substantially in the ordinary
course, including without limitation with respect to general levels
of economic activity, regulations, taxes and interest rates.
Although the forward-looking information is
based on what management of ClearStream consider to be reasonable
assumptions based on information currently available to it, there
can be no assurance that actual events or results will be
consistent with this forward-looking information, and management’s
assumptions may prove to be incorrect.
This forward-looking information is made as of
the date of this release, and ClearStream does not assume any
obligation to update or revise it to reflect new events or
circumstances except as required by law. Undue reliance should not
be placed on forward-looking information. Forward-looking
statements are provided for the purpose of providing information
about management's current expectations and plans relating to the
future. Readers are cautioned that such information may not be
appropriate for other purposes.
For further information, please
contact: Yves Paletta Chief Executive Officer ClearStream
Energy Services Inc. ypaletta@clearstreamenergy.ca
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