CDTi Appoints Tracy A. Kern as Chief Financial Officer
June 01 2016 - 8:00AM
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi” or “the
Company”), a leader in advanced emission control technology,
appointed Tracy A. Kern as Chief Financial Officer effective June
1, 2016. She will report to CDTi’s CEO Matthew Beale.
“To execute our advanced materials and high-value catalyst
strategy, we have repositioned the company,” stated Beale. “We
welcome Tracy, our new CFO who is a proven accounting executive
with more than 15 years of financial leadership experience. In
addition to her wealth of strategic and operational expertise, she
has helped shepherd two public companies through transformations.
As we continue the acceleration of our commercial and operational
goals, her deep understanding of process improvements and
turnarounds will provide important insight for CDTi.”
Kern added, “I am excited to join CDTi at this pivotal time for
the company as it drives toward sustainable profitability and
long-term growth, and I look forward to contributing to its success
as an advanced materials provider for the global emissions control
market.”
Beale concluded, “I would also like to extend my gratitude to
Dave Shea, who has served as chief financial officer since July
2014 and will assist in the transition process. We appreciate
Dave’s contributions and wish him well in his future
endeavors.”
Ms. Kern, 48, has more than 15 years of experience in finance,
accounting and auditing. Her most recent position was Chief
Financial Officer at Interlink Electronics Corporation, Inc.
(Nasdaq:LINK), a provider of force-sensing technologies, where she
led the company’s relisting with Nasdaq after a five-year absence
and instituted internal controls to ensure compliance with SEC
requirements. From 2008 to 2015, Kern was Corporate Controller at
Vitesse Semiconductor Corporation, a global provider of high
performance integrated circuit solutions for carrier, enterprise
and internet-of-things networks that was traded under the ticker
VTSS until it was acquired by Microsemi Corporation. At Vitesse she
managed a 10-member accounting team responsible for all aspects of
domestic and international operational accounting, implemented
financial statement controls and supported due diligence leading to
debt negotiations and the company’s merger. From 2003 to 2008, Kern
was Chief Financial Officer of CHAD Therapeutics, Inc., a publicly
traded medical device manufacturing company. At CHAD she was
responsible for financial analysis and reporting and SEC
compliance, and was part of the successful negotiation of
significant corporate asset sales as well as acquisition of
corporate financing. From 1998 to 2003, Kern was Audit Manager at
the public accounting firm KPMG, LLP. Kern is a Certified Public
Accountant and holds a Bachelor of Science degree in Accounting
from California Lutheran University.
About CDTiCDTi develops advanced materials
technology for the emissions control market. CDTi’s proprietary
technologies provide high-value sustainable solutions to reduce
hazardous emissions, increase energy efficiency and lower the
carbon intensity of on- and off-road combustion engine systems.
With a continuing focus on innovation-driven commercialization and
global expansion, CDTi’s breakthrough Powder-to-Coat (P2C™)
technology exploits the Company’s high-performance, advanced
low-platinum group metal (PGM) emission reduction catalysts. Key
technology platforms include Mixed Phase Catalyst (MPC®), Base
Metal Activated Rhodium Support (BMARS™), Synergized PGM (SPGM™),
Zero PGM (ZPGM™) and Spinel™. For more information, please visit
www.cdti.com.
Forward-Looking StatementsCertain information
contained in this press release constitutes forward-looking
statements, including any statements that are not statements of
historical fact. You can identify these forward-looking statements
by the use of the words “believes”, “expects”, “anticipates”,
“plans”, “may”, “will”, “would”, “intends”, “estimates”, and other
similar expressions, whether in the negative or affirmative.
Forward-looking statements are based on a series of expectations,
assumptions, estimates and projections, which involve substantial
uncertainty and risk. In this document, the Company includes
forward-looking statements regarding the acceleration of the
Company’s business transformation into an advanced materials
company and the Company’s future financial performance are all
subject to risks and uncertainties that could cause our actual
results and financial position to differ materially. In
general, actual results may differ materially from those indicated
by such forward-looking statements as a result of risks and
uncertainties, including, but not limited, to (i) that the Company
may not be able to (a) successfully implement, or implement at all,
its strategic priorities; (b) streamline its operations or align
its organization and infrastructure with the anticipated business;
(c) meet expectations or projections; (d) decrease costs; (e)
increase sales; (f) obtain adequate funding; (g) retain or secure
customers; (h) increase its customer base; (i) protect its
intellectual property; (j) successfully evolve into an advanced
materials supplier or, even if successful, increase profitability;
(k) successfully market new products; (l) obtain product
verifications or approvals; (m) attract or retain key personnel;
(n) validate, optimize and scale our powder-to-coat capability; or
(o) realize benefits from investments; (ii) funding for and
enforcement and tightening of emissions controls, standards and
regulations; (iii) prices of PGM and rare earth metals; (iv)
royalty and other restrictions on sales in certain Asian countries;
(v) supply disruptions or failures; (vi) regulatory, marketing and
competitive factors; (vii) environmental harm or damages; and
(viii) other risks and uncertainties discussed or referenced in the
Company’s filings with the Securities and Exchange Commission,
including its most recent Annual Report on Form 10-K and Quarterly
Report on Form 10-Q. In addition, any forward-looking statements
represent the Company’s estimates only as of the date of such
statements and should not be relied upon as representing the
Company’s estimates as of any subsequent date. The Company
specifically disclaims any obligation to update forward-looking
statements. All forward-looking statements in this press release
are qualified in their entirety by this cautionary statement.
Contact Information:Becky Herrick or Cathy
MattisonLHA (IR Agency)+1 415 433 3777bherrick@lhai.com /
cmattison@lhai.com
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