ENERGY RECOVERY, INC. (NASDAQ:ERII) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(c)(d) On May 2, 2018, the Board of Directors of Energy Recovery, Inc. (the “Company”) appointed Mr. Chris M. Gannon, 46, to serve as President and Chief Executive Officer of the Company and as a member of the Board, in each case effective immediately. Mr. Gannon had been named as the interim President and Chief Executive Officer on February 25, 2018 and was originally appointed as Chief Financial Officer of the Company in June 2015. Prior to joining the Company, Mr. Gannon held various executive positions with various companies, including as a Managing Director at Conway MacKenzie, Inc., where he served as a restructuring adviser to the City of Detroit throughout its Chapter 9 bankruptcy, and as a Principal at Talon Group, where he led the Group’s private equity investment arm. Mr. Gannon earned an MBA from the University of Chicago – Booth School of Business and a BSE in Industrial and Operations Engineering from the University of Michigan – College of Engineering.
There are no family relationships between Mr. Gannon and any of the officers or directors of the Company, and there are no arrangements or understandings between Mr. Gannon and any other person to which he was appointed as an officer of the Company. There are no related party transactions with Mr. Gannon that are reportable under Item 5.02 of Form 8-K and Item 404(a) of Regulation S-K.
|
Item 7.01 |
Regulation FD Disclosure |
On May 3, 2018, the Company issued a press release announcing the appointment of Mr. Gannon as President and Chief Executive Officer of the Company and as a member of the Board, a copy of which is attached hereto as Exhibit 99.1. The information in this Item 7.01, including Exhibit 99.1, is being furnished to Item 7.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly set forth by specific reference in such filing.
|
Item 9.01 |
Financial Statements and Exhibits. |
(d)Exhibits
|
Exhibit Number |
Description |
|
99.1 |
Press Release Dated May 3, 2018
|
Energy Recovery, Inc. ExhibitEX-99.1 2 exhibit991-pressreleasemay.htm EXHIBIT 99.1 – PRESS RELEASE DATED MAY 3,…To view the full exhibit click here
About ENERGY RECOVERY, INC. (NASDAQ:ERII)
Energy Recovery, Inc. is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination. Its Oil & Gas Segment consists of products sold for use in gas processing, chemical processing, and hydraulic fracturing. It offers energy recovery devices (ERDs) in the water desalination market with its pressure exchanger technology and turbochargers. It offers VorTeq hydraulic fracturing system (VorTeq), IsoBoost, and IsoGen product lines to the oil and gas market. Its solutions are marketed and sold in fluid flow markets, such as water, oil and gas, and chemical processing, under the trademarks ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, IsoBoost, and IsoGen.
