ZCL Composites Inc. (TSX: ZCL)
EDMONTON, Oct. 14, 2016 /CNW/ - ZCL today announced that its Board of Directors has granted a temporary 30-day medical leave of absence to Ron Bachmeier, President & CEO. During the leave Mr. Bachmeier will undertake exploratory tests and address possible treatment options for a recently diagnosed benign tumour.
Due to the short-term nature of the leave, ZCL has not appointed an interim President & CEO. Mr. Bachmeier will continue in these roles and will stay involved in running of the Company to the extent practical.
It is too soon to know the course or timing of possible treatment options and whether treatment will require additional leave. Out of respect for Mr. Bachmeier's privacy, no further details will be provided at this time.
"It is in my best interest and that of ZCL that I take this time to focus on my health while ZCL's leadership team continues to execute our strategy," said Mr. Bachmeier.
Added Tony Franceschini, chairman of the board of ZCL, "We support Ron in taking this leave and wish him the best as he focuses on his health. Ron has built a strong management team and the board has complete confidence in the team's ability to implement ZCL's strategy and run ZCL's operations."
Advisory Regarding Forward-Looking Statements
This document contains forward-looking statements concerning future events, including the expectations in connection with the medical leave of absence being taken by the Company's President and CEO and his continued role with the Company during such leave. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "plan," "continue," "estimate," "expect," "may," "will," "project," "predict," "potential," "targeting," "intend," "could," "might," "should," "believe" and similar expressions. Actual events or results may differ materially from those reflected in the Company's forward-looking statements due to a number of known and unknown risks, uncertainties and other factors affecting the Company's business and the industries the Company serves generally.
The Company believes that the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon.
The forward-looking statements in this report speak only as of the date of this press release. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on the Company's behalf, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. For further information, please contact:
SOURCE ZCL Composites Inc.
For further information: Kathy Demuth, Chief Financial Officer, ZCL Composites Inc., (780) 466-6648, Kathy.Demuth@zcl.com