Crown Electrokinetics Appoints New Chief Financial Officer
Crown Electrokinetics Corp. (NASDAQ: CRKN) has appointed Joel Krutz as the new Chief Financial Officer (CFO), effective June 21, 2021. He succeeds Phil Anderson, who is leaving to explore new opportunities. Krutz brings extensive experience in financial operations, having served as CFO for ViacomCBS Networks International. His role is pivotal as Crown prepares to launch its DynamicTint™ Smart Glass Inserts, which aim to enhance operational change and drive strategic initiatives. Anderson will continue as a consultant for specific projects.
- Appointment of Joel Krutz as CFO expected to strengthen financial operations and strategic initiatives.
- Krutz's background in transforming financial infrastructures indicates potential for enhanced operational efficiency.
- Transition in leadership may create continuity concerns during pivotal operational changes.
CORVALLIS, Ore., June 21, 2021 /PRNewswire/ -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company"), a leading smart glass technology company that has developed and is commercializing patented thin-film solutions, today announced the appointment of Joel Krutz as Chief Financial Officer (CFO), effective June 21, 2021. Mr. Krutz succeeds Phil Anderson, who has decided to pursue new opportunities after successfully leading Crown through key capital raises and an uplisting.
"We are pleased to have Joel Krutz join Crown's leadership team as Chief Financial Officer. As we diligently prepare to commence sales and rollout our DynamicTint™ Smart Glass Inserts, we look forward to Joel's guidance and support during this crucial time of operational change for Crown. Joel has extensive expertise across strategic financial functions and operations where he built and optimized financial infrastructure. I look forward to Joel making an impact by driving our strategic initiatives and leading the finance and accounting functions," said Doug Croxall, Crown Chairman & CEO.
"On behalf of the Board of Directors and management team, we would like to thank Phil Anderson for his tireless hard work and significant contributions to Crown as we transitioned to a Nasdaq listed company. Also, we look forward to our continued relationship with Phil as he remains a consultant for Crown working on a few specific projects," concluded Mr. Croxall.
Joel Krutz is an experienced executive in finance and operations, with a history in building and developing financial reporting. Most recently, Mr. Krutz had served as CFO for ViacomCBS Networks International (VCNI), the premium content companies international division since 2015. As CFO, VCNI, Mr. Krutz successfully steered the business through a transformational period of expansion, diversification, and growth. Prior to his role as CFO of VCNI, Mr. Krutz held a number of progressive London and New York based CFO and senior strategic finance roles for Viacom where he built and developed financial infrastructure to support businesses through a range of rapid growth, turnaround, and portfolio optimization challenges. Originally from New Zealand, Mr. Krutz received a Bachelor of Management Studies with an Accounting major from Waikato University, obtained his professional CIMA qualification from the UK's Association of Chartered Management Accountants, and CTAMU certification from Harvard Business School's Executive program.
"The opportunity to join Crown at this exciting stage to help Doug and the team build a business that can significantly reduce carbon emissions and create immense shareholder value, is rare indeed. It's an honor to be joining such a talented team and high potential business in the rapidly developing smart glass market," said Joel Krutz, Crown CFO.
About Crown Electrokinetics
Crown is a smart glass technology company and the creator of DynamicTint - We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to transition between clear and dark in seconds. With applications to a wide array of windows, including commercial buildings, automotive sunroofs, and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. At the core of our technology is a thin film that is powered by electrically-charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. With its unique ability to be retrofitted to existing glass, DynamicTint™ offers myriad benefits related to reducing carbon emissions. The company is supported by a robust patent portfolio. For more information, please visit WWW.CROWNEK.COM.
Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as "anticipate," "expect," "intend," "may," "will," "should" or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Crown Electrokinetics and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in Crown Electrokinetics' periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Crown Electrokinetics undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
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SOURCE Crown Electrokinetics
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