Abtech Holdings, Inc. (OTCMKTS:ABHD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
(c) Appointment of New Principal Operating Officer.
On February 13, 2018, AbTech appointed Robert Backman to serve as its Chief Operating Officer, effective February 13, 2018. Mr. Backman, age 60, has over 35 years of experience in supplying water and wastewater treatment in both the industrial and municipal markets. Since 2005, he has been integral to the development and commercialization of the ballasted high rate clarification processes for physical, chemical and biological treatment. From 2014 to 2017, he served as the Manager of Business Development/Global Accounts at Evoqua Water Technologies, LLC, where he was responsible for domestic and international business growth and new application development for high rate clarification technology for both municipal and industrial markets. From 2012 to 2014, he served as the Senior Business Development Manager for Siemens Industry Inc. (“Siemens”), where he drove the integration of high rate clarification technologies that Siemens had acquired in an acquisition of Cambridge Water Technology, Inc. From 2006 to 2012, Mr. Backman served as Vice President of Sales and Marketing at Cambridge Water Technology, Inc., where he was integral to the development of high rate clarification technologies and was part of the negotiation team that sold the Company to Siemens. He has extensive experience in process design, equipment specification and project life cycle management. Mr. Backman will oversee all operational areas of AbTech, including, sales, marketing, research, product development, engineering and strategic planning.
Mr. Backman is not related to any officers or directors of the Company and is not involved in any related party transactions with the Company. He has acted as a part-time consultant to the Company since May 2017. For his services, Mr. Backman will receive an annual base salary equal to $200,000. In addition, it is expected that Mr. Backman will be a participant in the Company’s incentive stock plan, although no grants have yet been made to Mr. Backman under such plan, the Company’s discretionary management bonus program, and receive employee benefits afforded to all full-time employees of the Company. The Company does not anticipate that it will enter into an employment agreement with Mr. Backman other than the customary confidentiality agreement.
About Abtech Holdings, Inc. (OTCMKTS:ABHD)
Abtech Holdings, Inc., through its subsidiary, AbTech Industries, Inc. (AbTech Industries), provides solutions to water contamination issues that are caused by stormwater runoff, industrial processes, water produced in the extractive industries, such as oil and gas drilling, and spills of oil-based fluids in marine environments. The Company operates through the filtration and treatment of polluted water segment. It provides services for the design and selection of water treatment systems, products sales of filtration and treatment systems, installation of the treatment technologies and maintenance of the installed systems. These activities are provided through subcontractors and on some projects the Company may act as a subcontractor to other entities. AbTech Industries has developed a range of products that leverage its cornerstone filtration media technology called Smart Sponge. The technology can be used as a filtration media to remove hydrocarbons and other pollutants from water.
