James Mannebach is appointed as CEO of Velan
February 05 2024 - 4:00PM
Velan Inc. (“
Velan”) (TSX: VLN) today announces
that its board of directors has appointed Mr. James Mannebach as
CEO of Velan. Mr. Mannebach is the Chair of the Board of Directors
of Velan and was previously the interim CEO.
“We believe it’s in Velan’s best interests for
Mr. Mannebach to be confirmed as CEO. Mr. Mannebach has
demonstrated he has all the qualities required to lead Velan into
the next stage of its evolution” commented Mr. Tom Velan, Chairman
of Velan Holding Co. Ltd., the controlling shareholder of
Velan.
“I am very excited to transition from my recent
interim role and join the team as the CEO of Velan,” said James
Mannebach. “With the benefit of five years of insight from my
position on the board, these past few months have confirmed my
belief in the potential of this great company. I`d like to thank
the Velan family for their trust in me. I look forward to working
with our teams around the world as we write the next chapter in the
company`s history together.”
About Mr. James Mannebach
Mr. Mannebach has been a director of Velan since
2018 and the Chair of the board of directors of Velan since 2020.
Mr. Mannebach, BSBA, MBA, CPA, is a Managing Partner of Blackbird
Group LLC, a private equity investment. Prior to 2024, he was CEO
of Power-Sonic Corporation, a leading global provider of power
supply and energy storage solutions. Prior to March 2009, he was
Group President and CEO of IMI PLC’s Precision Engineering
business, a global engineering firm focused on motion and fluid
control technologies. Prior to September 2004, Mr. Mannebach was
Group Vice President of the Industrial Technology group of Roper
Technologies, a leading global provider of process control, fluid
metering and pump systems. Prior to 2003, Mr. Mannebach was
employed by Emerson where he served as a Corporate Officer and in
the company’s process control business group which focuses on
process management, control valves, fluid metering and control
solutions including senior leadership positions at Fisher Controls,
Rosemont and Micro Motion. Prior to 1988, Mr. Mannebach started his
professional career at the global accounting, tax and advisory firm
of Deloitte.
About Velan Inc.
Founded in Montreal in 1950, Velan Inc. is one
of the world’s leading manufacturers of industrial valves. Velan
Inc. is a family-controlled public company, employing approximately
1,650 people with manufacturing facilities in 9 countries. Velan
Inc. is a public company with its shares listed on the Toronto
Stock Exchange under the symbol VLN.
Caution Regarding Forward-Looking
Statements
Certain statements made in this news release may
constitute forward-looking information or forward-looking
statements within the meaning of applicable securities laws,
including, but not limited to, statements with respect to the
future plans of Velan and other statements that are not material
facts. Often, but not always, forward-looking statements can be
identified by the use of forward-looking terminology such as “may”,
“will”, “expect”, “believe”, “estimate”, “plan”, “could”, “should”,
“would”, “outlook”, “forecast”, “anticipate”, “foresee”, “continue”
or the negative of these terms or variations of them or similar
terminology.
The forward-looking statements included in this
news release are based on our current expectations, projections,
estimates and assumptions. These statements are only predictions,
not guarantees. Such forward-looking statements are subject to
numerous risks and uncertainties that are difficult to predict.
These risks and uncertainties are disclosed in the Company’s
filings with the appropriate securities commissions. Should one or
more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking information prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected.
Readers are cautioned not to place undue
reliance on the forward-looking statements and information
contained in this news release. All forward-looking statements
included in this news release are based on information available to
us on the date hereof, and we assume no obligation to update any
forward-looking statement.
Velan Contact:
Rishi Sharma, Chief Financial and Administrative Officer |
(438) 817-4430 |
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