SAN LEANDRO, Calif.--(BUSINESS WIRE)--
Energy
Recovery Inc. (NASDAQ:ERII), the leader in pressure energy
technology for industrial fluid flows, today announced that it has
appointed Mr. Chris M. Gannon as Chief Financial Officer, effective June
8, 2015.
Mr. Gannon most recently served as managing director at Conway
MacKenzie, a firm focused on providing strategic financial consulting,
corporate restructuring, turnaround consulting and performance
improvement services to performing and under-performing domestic and
international companies. He served in interim management capacities for
the firm’s clientele, such as CRO, CFO, Treasurer, and other strategic
finance functions. Mr. Gannon’s responsibilities included strategic
planning, financial planning and analysis, financial reporting, KPIs,
cash management, performance improvement, deal structuring, and
negotiation.
Mr. Gannon’s most recent assignment at Conway MacKenzie was as a lead
restructuring advisor to the City of Detroit throughout its landmark $18
billion Chapter 9 bankruptcy. He played an instrumental role in crafting
the City’s $1.7 billion Restructuring and Reinvestment Plan, the
cornerstone of the City’s Plan of Adjustment. Post-bankruptcy, he has
been a key architect of the restructuring of the City’s finance
operations.
Mr. Joel Gay, President and Chief Executive Officer of Energy Recovery,
stated, “We believe Chris’ substantial experience in leading a wide
variety of organizations through rapid change and deep experience in
finance and multiple corporate disciplines, including strategy,
operations, and corporate development, make him the ideal addition to
the Energy Recovery leadership team. In addition to a strong sense of
fiscal discipline, Chris has a lengthy track record of positioning
companies throughout multiple industries for sustainable growth. We are
fortunate to have a proven executive of Chris’ caliber join the Energy
Recovery team, and I am confident he will be a valuable contributor to
the Company’s continued efforts in strategic market expansion and
product commercialization.”
Mr. Gannon stated, “I am excited to be joining Energy Recovery, a
company known for its innovation and recognized technologies, at this
time in the Company’s history. Joel has made a number of significant
changes to the strategy and operating structure since the beginning of
2015, and I am eager to begin working with him and the other members of
senior management on propelling Energy Recovery’s growth forward in the
months and years to come.”
Prior to joining Conway MacKenzie, Mr. Gannon was a principal at Talon
Group, a private equity firm focused on control investments in
performing and distressed businesses. Previously, he functioned as a
finance operating partner to private equity funds through Caledonia
Group. He began his career in investment banking with a focus on mergers
and acquisitions and capital market transactions.
Mr. Gannon holds a bachelor’s degree in Industrial and Operating
Engineering from the University of Michigan and an MBA from the
University of Chicago’s Booth School of Business.
About Energy Recovery
Energy Recovery (NASDAQ:ERII) develops award-winning solutions to
improve productivity, profitability, and energy efficiency within the
oil & gas, chemical, and water industries. Our products simplify complex
systems and protect vulnerable equipment. By recycling fluid pressure
that would otherwise be lost in critical processes, we save clients more
than $1.4 billion (USD) annually. Headquartered in the San Francisco Bay
Area, Energy Recovery has offices in Shanghai and Dubai.
Forward-Looking Statements
This press release contains forward-looking statements that reflect
management's current expectations, assumptions and estimates of future
performance and economic conditions. Such statements are made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. The company cautions investors that any forward-looking statements
are subject to risks and uncertainties that may cause actual results and
future trends to differ materially from those matters expressed in or
implied by such forward-looking statements. Statements about future
expectations about technology introduction and adoption, as well as
shareholder value are forward-looking and involve risks and
uncertainties. Energy Recovery disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise.
Media:
Energy Recovery Inc.
Alex Dolan,
+1-510-746-2574
adolan@energyrecovery.com
or
Investor:
The
Equity Group Inc.
Adam Prior, +1-212-836-9606
aprior@equityny.com
Source: Energy Recovery Inc.