ETC Announces Resignation of Chief Financial Officer
Environmental Tectonics Corporation (ETCC) announced the departure of Chief Financial Officer Mark Prudenti, who is leaving for personal reasons and not due to any concerns about the company’s financial practices. The Board of Directors is actively searching for a replacement. CEO Robert L. Laurent, Jr. acknowledged Prudenti's contributions and reassured investors about the stability of accounting and internal controls. This development highlights a transition in leadership as the company continues its operations in designing and manufacturing physiological effect monitoring systems.
- Leadership transition may bring fresh perspectives to the company's financial strategy.
- Departure of CFO may raise concerns regarding continuity and experience in financial management.
SOUTHAMPTON, Pa., Jan. 21, 2022 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation’s (OTC Pink: ETCC) (“ETC” or the “Company”) today announced that Mark Prudenti has decided to leave his position as Chief Financial Officer to pursue an opportunity outside the company. ETC’s Board of Directors has initiated the process to identify qualified candidates to fill the position.
Robert L. Laurent, Jr., ETC’s Chief Executive Officer, said, "We greatly appreciate the contributions that Mark made to ETC during his tenure here. I want to assure our investors that Mark’s decision was made for personal reasons and in no way reflects any concerns, either on his or ETC's part, regarding ETC's accounting practices, financial reporting or internal controls. We wish Mark well in his future endeavors and look forward to completing our search for a new Chief Financial Officer."
About ETC:
ETC designs, manufactures, and sells software driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC is headquartered in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.
Forward-looking Statements
This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.
| Contact: | Robert L. Laurent, Jr. CEO |
| Phone: | (215) 355-9100 |
| E-mail: | info@etcusa.com |
FAQ
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