CALGARY, Dec. 7, 2016 /CNW/ - Newalta Corporation ("Newalta") (TSX:NAL) today appointed Linda Dietsche as Executive Vice President and Chief Financial Officer, effective January 1, 2017. Ms. Dietsche, currently Vice President, Finance, will succeed Mike Borys, who has intended to take some personal time since returning to the company from a brief health leave in February 2014. Mr. Borys is leaving the company at the end of December and will then be available to support the transition as needed in 2017.
"I want to thank Mike for his contributions and unbelievable dedication to Newalta," said John Barkhouse, President and Chief Executive Officer. "Having helped position Newalta to weather the current downturn, and prosper as the market recovers, Mike felt now was the right time to depart. We appreciate the outstanding work he has done to strengthen our financial position, mentor Linda and build a strong finance team. We expect the result will be a seamless transition as we continue to execute our strategy."
Mr. Borys commented, "I am very proud of Newalta and confident in its future success, and I'm pleased that our financial performance is tracking as expected against guidance for the year. Having worked with Linda for more than eight years, I know the company is in very capable hands."
Ms. Dietsche will oversee the full range of Newalta's financial functions including accounting, financial reporting, financial planning and analysis, treasury, tax, risk management, financings, investor relations and information technology. She joined Newalta as Assistant Controller in 2003 and has held progressively responsible roles, becoming Vice President, Finance in 2012. Ms. Dietsche has extensive finance experience, including leadership in the areas of debt holder and banking relations, credit facility renewals and debenture financings. Prior to Newalta, she held senior accounting roles with Mount Royal University and Ogilvy and Mather. She has a Certified Management Accountant designation and a Masters in Business Administration from Royal Roads University.
Newalta is a provider of innovative engineered environmental solutions that enable customers to reduce disposal, enhance recycling and recover valuable resources from oil and gas exploration and production waste streams. We simplify the critical challenges of sustainable environmental practices through the use of advanced processing capabilities deployed through a differentiated business model. We serve customers onsite directly at their operations and through a network of locations throughout North America. Our proven processes and excellent record of safety make us the first-choice provider of sustainability-enhancing services for oil and gas customers. With a highly skilled team of people, a two-decade track record of innovation and a commitment to commercializing new solutions, Newalta is positioned for sustained future growth and improvement. We are Sustainability SimplifiedTM. Newalta trades on the TSX as NAL. For more information, visit www.newalta.com.
SOURCE Newalta Corporation
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