Hennessy Capital Investment Corp. V Announces the Appointment of Independent Directors and the Formation of a Strategic Advisory Council
Hennessy Capital Investment Corp. V (NASDAQ: HCICU) announced its recent upsized IPO of $345 million following the appointment of five independent directors and the formation of a strategic advisory council. Chairman & CEO Daniel Hennessy emphasized the board's experience in driving shareholder value. Notable appointees include Jeffrey Immelt, former GE CEO, and Barbara Byrne, influential in finance. The strategic advisory council adds further expertise to target innovative business opportunities in sustainable industrial technology.
- Appointment of five independent directors enhances governance.
- Formation of strategic advisory council to leverage industry expertise.
- Potential for increased shareholder value through experienced leadership.
- None.
NEW YORK, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Hennessy Capital Investment Corp. V (NASDAQ: HCICU) ( “HCIC V” or the “Company”), a special purpose acquisition company (“SPAC”) sponsored by Hennessy Capital LLC, a leading SPAC sponsor with over
“We set out to assemble a group of highly accomplished and engaged executives that have demonstrated a track record of shareholder value creation in both public and private equity markets,” said HCIC V Chairman & CEO Daniel Hennessy. “We believe that we can leverage their collective expertise, contacts, and relationships to generate compelling target opportunities, as we’ve demonstrated in our prior four SPACs. I am pleased to serve along with these individuals and look forward to the invaluable guidance they will bring to HCIC V.”
Independent Board Appointments
The following individuals will serve as the independent directors of the Company:
Jeffrey Immelt - Lead Independent Director. Jeffrey Immelt currently serves as a Venture Partner on both the technology and healthcare investing teams at New Enterprise Associates (“NEA”). He currently serves on the board for several NEA portfolio companies in the healthcare, clean tech and technology sectors (including Desktop Metal, Inc. (NYSE: DM) and Formlabs) and has served as a director at Desktop Metal, Inc. since it became public via a SPAC merger in December 2020. He previously served as Chairman and CEO of GE (NYSE: GE) for 16 years, where he revamped the company’s strategy, global footprint, workforce and culture, transforming it into a simpler, stronger, and more focused digital industrial company. He has been named one of the “World’s Best CEOs” three times by Barron’s, and while he was CEO, GE was named “America’s Most Admired Company” by Fortune magazine.
Nora Mead Brownell. Nora Mead Brownell is the co-founder of Espy Energy Solutions, LLC, an energy consulting firm, and a former Commissioner of the Federal Energy Regulatory Commission (FERC) from 2001-2006 under the administration of President George W. Bush. She is also the former President of the National Association of Regulatory Utility Commissioners (NARUC) and formerly served as the board chair for Pacific Gas and Electric (PG&E). She has also been a board member for many corporations, including National Grid, Spectra Energy, Oncor Electric Delivery, and Times Publishing Company.
Barbara Byrne. Barbara Byrne currently sits on the board of trustees of the Institute of International Education and the board of directors of ViacomCBS Inc. (Nasdaq: VIAC), and she is a lifetime member of The Council on Foreign Relations. She is former Vice Chairman of Investment Banking at Barclays PLC and at Lehman Brothers—the first woman to be named Vice Chairman at either firm—and she held senior leadership positions in both the Energy and Technology Investment Banking Groups. American Banker named Ms. Byrne in the top five of the “25 Most Powerful Women in Finance” for eight consecutive years through 2017, and she received American Banker’s Lifetime Achievement Award in Finance in October 2018.
Dr. Kurt Lauk. Dr. Kurt Lauk currently serves as an independent director for Magna International (NYSE: MGA), a leading developer and manufacturer of automotive technology. He was formerly a member of the board of management and Head of World Wide Commercial Vehicles Division of Daimler Chrysler, as well as Deputy Chief Executive Officer and Chief Financial Officer (with responsibility for finance, controlling and marketing) of Audi AG. Dr. Lauk also formerly served as an independent director of Solera, a software company for the automotive industry.
Tanguy Serra. Tanguy Serra currently serves as President and Chief Investment Officer of Loanpal, leading the innovation group, leveraging new technology to identify new business opportunities and market growth potential, and optimizing advancements in the consumer lending platform. Previously, he served as President of SolarCity and co-founded Vivint Solar, the second largest residential solar provider. Before then, he spent three years in investment banking at Merrill Lynch and Morgan Stanley, and eight years as Vice President in the private equity group at TPG.
Strategic Advisory Council
In addition to its board of directors, the Company has formed a strategic advisory council consisting of the following six highly-qualified individuals.
Brad Buss: Independent Director at QuantumScape (NYSE: QS), Marvell Technology (NASDAQ: MRVL), AECOM (NYSE: ACM), and Advance Auto Parts (NYSE: AAP); former Independent Director of Tesla; former CFO of SolarCity and Cypress Semiconductor. In November 2020, QuantumScape was taken public via a merger with a SPAC, further adding to the senior management team’s SPAC credentials.
Gretchen McClain: Operating Executive at The Carlyle Group (NASDAQ: CG); former CEO of Xylem; Independent Director at Booz Allen Hamilton (NYSE: BAH), AMETEK (NYSE: AME), and J.M. Huber.
Lee McIntire: Former CEO of Terrapower, a next-generation nuclear energy firm; former CEO of CH2M Hill, a global management engineering design firm.
Manish Nayar: Founder and CEO of OYA Ventures; founded renewable energy companies OYA Solar, Polar Racking and PRI Engineering.
James O’Neil III: Orbital Energy Group Vice Chairman & CEO (Nasdaq: OEG) and independent director at FirstEnergy (NYSE: FE); former CEO and President of Quanta Services (NYSE: PWR), where he oversaw and completed numerous acquisitions.
Ashley Zumwalt-Forbes: Co-Founder, director & former President at Black Mountain - International (Battery Metals, Tight Gas); recently included on the Forbes 30 Under 30 in Energy list.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the initial public offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
About Hennessy Capital Investment Corp. V
Hennessy Capital Investment Corp. V is a special purpose acquisition company (or SPAC) which raised
Contact
CODY SLACH
Gateway IR
P: (949) 574-3860
E: HCIC@gatewayir.com
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