EDMONTON, Nov. 9, 2017 /CNW/ - ZCL Composites Inc. (TSX:ZCL) (the "Company") today announced that Ron Bachmeier, President & CEO, has made the decision to retire as of March 31, 2018. The Company has engaged Optimum Talent / Conroy Ross Partners to conduct a search for Mr. Bachmeier's successor.
Mr. Bachmeier, 60, will remain in his position as President & CEO of ZCL until March 31, 2018 after which he has agreed to provide transition advisor services until June 30, 2019, to ensure a smooth handover of leadership. Mr. Bachmeier will remain a director of ZCL.
"ZCL has grown dramatically under Ron's guidance since 2012 and we are most grateful that he has positioned the company for ongoing success," said Tony Franceschini, Chairman of the Board.
Added Mr. Bachmeier, "For some time now, I have been receiving treatment for a previously disclosed medical condition that has contributed to my decision. I look forward to continuing to serve ZCL as President & CEO, director and transition advisor. This is a very strong organization, with an exceptional management team, and I have great confidence in ZCL's future."
Mr. Bachmeier was Chief Operating Officer of ZCL's US operations from 2007 until 2008 and COO of all ZCL's operations from 2008 until his appointment as President and CEO in 2012. He was formerly the Chief Financial Officer of Minneapolis-based Xerxes Corp., which ZCL acquired in 2007.
About ZCL Composites Inc.
Our mission is to deliver Peace of Mind through corrosion resistant solutions that preserve and protect the environment. More information about ZCL is available on our website at www.zcl.com.
Advisory Regarding Forward-Looking Statements
This document contains forward-looking statements concerning future events, including the expectations in connection with the retirement of the Company's President and CEO. 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.
SOURCE ZCL Composites Inc.
For further information: Ron Bachmeier, President & CEO, ZCL Composites Inc., (780) 466-6648, Ron.Bachmeier@zcl.com; Kathy Demuth, Chief Financial Officer, ZCL Composites Inc., (780) 466-6648, Kathy.Demuth@zcl.com
Established in 1987, ZCL COMPOSITES INC. has grown to become North America’s leading designer, manufacturer and supplier of cost-effective fibreglass tank systems to the petroleum industry. An unrelenting drive to manufacture superior fibreglass tanks that “simply will not corrode” has made ZCL the preferred choice in many industrial and retail sectors. Combined with its...