great news-new ceo
looks like Hauschild was reading the boards the past few weeks and saw that shareholders were not pleased with his performance. i have to give him some credit for getting out now rather than waiting to get booted at the agm,should see a steady rise in the stock price now
Seprotech appoints Grant as CEO, Stefan as president
2011-01-27 13:07 ET - News Release
Shares issued 51,321,926
SET Close 2011-01-26 C$ 0.03
Mr. Matthew Anderson reports
SEPROTECH ANNOUNCES APPOINTMENT OF JORDAN GRANT AS CHIEF EXECUTIVE OFFICER AND WILF STEFAN AS PRESIDENT AND CHIEF OPERATING OFFICER
The board of directors of Seprotech Systems Inc. has appointed its chairman, Jordan Grant, as the company's chief executive officer. Martin J. Hauschild has stepped down as president and chief executive officer, and as a director of the company, effective immediately. In addition, Mr. Grant is pleased to announce that Wilf Stefan will be promoted to president and chief operating officer of the company.
Mr. Stefan, a PEng, joined Seprotech in 2005. Coming from the oil and mining industries, he was initially hired to head up marketing and sales to the resource sector. Subsequently, Mr. Stefan became vice-president of operations, managing the company's production and service delivery, giving him a well-rounded knowledge of all aspects of the operation. "I welcome Wilf in his new role as president and COO, and we look forward to his steady hand as the company undergoes the transition from a boutique supplier of specialized systems to a market-leading provider of small-to-mid-sized water and waste water package plants," said Mr. Grant. "This move rounds out a strong senior management team consisting, in addition to Mr. Stefan, of our new CFO, Ian Malone, and our vice-president of finance and corporate development, Matt Anderson. We expect to be making announcements soon regarding additions to our board of directors."
Mr. Grant expressed his thanks to Mr. Hauschild for his service to the company through a difficult economic environment. "Under Martin's direction, the company has developed several proprietary state-of-the-art treatment technologies and is well positioned to monetize this intellectual property in a number of growing markets."
Mr. Hauschild will continue to pursue certain strategic business opportunities in support of the company's sales efforts.
Mr. Grant stated that Seprotech's top priorities are to focus on sales and to restore the company's balance sheet by raising additional working capital. "The company has a substantial sales pipeline that must be converted into firm orders. In support of sales, marketing initiatives are being implemented by our new director of marketing and sales, Kevin Bloodworth, to improve our sales tools and expand our rep network. This includes a new company website.
"The next priority is to enhance the company's product offerings with additional solutions targeted to the same market segments currently served by the well-proven Rotordisk package sewage treatment plant," continued Mr. Grant. "Finally, completing the rollout of the patent-pending Crystal Blue membrane bioreactor is expected to give us a competitive advantage in locations where there is a demand for water recycle systems. With all of these initiatives in place, we should be in a strategic position to become a major force in our segment of the market."
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