Flotek Welcomes New Vice President Of Professional Chemistries

Rhea-AI Summary

Flotek Industries (NYSE: FTK) announced the appointment of Matthew P. Sullivan as Vice President of Professional Chemistries on May 10, 2021. Sullivan brings over 30 years of experience, previously holding leadership roles at Georgia-Pacific and Clorox Professional. His responsibilities include overseeing Flotek's cleaning and sanitizing product line. To align his interests with shareholders, Sullivan received 60,000 restricted stock awards that will vest over three years. Flotek recently launched its Flotek Protekol™ product line, comprising high-performance cleaning and sanitizing products.

Positive

• Appointment of an experienced leader, Matthew P. Sullivan, as VP of Professional Chemistries.
• Sullivan has over 30 years of relevant industry experience.
• Launch of Flotek Protekol™, a comprehensive line of cleaning and sanitizing products.

Negative

• None.

HOUSTON, May 10, 2021 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) is pleased to announce Matthew P. Sullivan has joined the Company as Vice President of Professional Chemistries. In this role, he will oversee the Company's business development strategy and implementation for Flotek's cleaning, disinfecting and sanitizing product line. He will report directly to Ryan Ezell, Ph.D, President of Flotek's Chemistry Technologies segment.

Sullivan is an experienced leader in the Away from Home market, with a specialization in the janitorial and sanitizing segment, bringing more than 30 years' experience to the role. He joins Flotek from Georgia-Pacific, a Koch Industries company, where he held a variety of leadership roles, and most recently, served as Director of Sales for the Northeast Market for GP Pro. He started his career at Scott Paper Company in 1989, later becoming senior market manager at Kimberly Clark, following the Scott and Kimberly Clark merger. Sullivan joined Clorox Professional for six years running 24 states in the Eastern region. In 2003, he served on the leadership team of Technical Concepts (TC), the world leader in restroom automation systems, which sold to Newell Rubbermaid in 2008.

"I'm incredibly excited to welcome Matt to our team here at Flotek. I am confident Matt will help accelerate the momentum we have built in our professional chemistries product line. For decades, Matt has built a reputation as a trusted leader and partner to customers, helping to solve their challenges through meaningful solutions," said Ezell.

"I am thrilled to join Flotek at such an exciting time in the Company's journey. With Flotek's chemistry and manufacturing core competencies, I am eager to develop and promote our technologies and portfolio of product solutions to the marketplace. Flotek's agility and ability to meet distribution and end user demands will create mutual value for all stakeholders – end users, distributors and shareholders," said Sullivan. "I am humbled and honored that the Flotek leadership team and Board has entrusted me with this pursuit. I look forward to leveraging my relationships, experience and market knowledge in the janitorial and sanitizing industry – built over my professional lifetime – to grow the Company's professional chemistries business."

As an inducement to join the Company and to closely align interests with the Company's shareholders, Sullivan has been granted 60,000 restricted stock awards (RSAs) that will vest over three years.

Sullivan graduated from Northeastern University in Boston with a Bachelor of Science in journalism. He resides in Freehold, New Jersey.

In March, the Company launched Flotek Protekol™, its full suite of high-performance surface cleaners, disinfectants, wipes and sanitizers. The product line is made with ingredients sourced, formulated, blended and bottled in the USA, and includes products registered with the U.S. Food and Drug Administration (FDA) and Environmental Protection Agency (EPA). More information can be found at www.flotekprotekol.com.

About Flotek Industries

Flotek Industries, Inc. is a technology-driven, specialty chemistry and data company that helps customers across industrial, commercial and consumer markets improve their Environmental, Social and Governance performance. Flotek's Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK." For additional information, please visit Flotek's web site at www.flotekind.com.

Forward-Looking Statements

Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release.  Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management.  Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements.  Further information about the risks and uncertainties that may impact the Company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), and in the Company's other SEC filings and publicly available documents.  Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.

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SOURCE Flotek Industries, Inc.

FAQ

Who is the new Vice President of Professional Chemistries at Flotek Industries?

Matthew P. Sullivan has been appointed as the new Vice President of Professional Chemistries.

What experience does Matthew P. Sullivan bring to Flotek?

Matthew P. Sullivan brings over 30 years of experience from roles at Georgia-Pacific and Clorox Professional.

What is the Flotek Protekol™ product line?

Flotek Protekol™ is a new line of high-performance cleaning, disinfecting, and sanitizing products launched by Flotek.

What stock awards did Matthew P. Sullivan receive?

Matthew P. Sullivan was granted 60,000 restricted stock awards that will vest over three years.

On which date was Matthew P. Sullivan appointed at Flotek?

Matthew P. Sullivan was appointed on May 10, 2021.