Orbital Energy Group Announces Chief Financial Officer Transition
Orbital Energy Group (NASDAQ: OEG) has appointed Nick Grindstaff as Chief Financial Officer, effective November 16, 2021, succeeding Daniel Ford who will assist in the transition. Jim O'Neil, the CEO, emphasized the need for executive team consolidation at the Houston headquarters due to the company's growth. Grindstaff brings over 20 years of infrastructure finance experience, previously serving at Quanta Services and holding degrees in Accounting and Finance. The company aims to enhance its infrastructure services platform while maintaining commitment to integrity and shareholder value.
- Appointment of experienced CFO Nick Grindstaff is expected to strengthen financial leadership.
- Jim O'Neil praises Grindstaff's expertise and relationships in the infrastructure markets.
- Transition may cause temporary disruptions as new CFO acclimates to the role.
HOUSTON, Nov. 12, 2021 /PRNewswire/ -- Orbital Energy Group, Inc. (NASDAQ: OEG) ("OEG") today announced that Nick Grindstaff has been appointed Chief Financial Officer, effective November 16, 2021. Mr. Grindstaff will replace Daniel Ford, who will remain with the company for a period of time to ensure a smooth transition.
"Orbital Energy Group continues to increase in scope, size, and complexity, making it strategically important for its executive team to reside in one location, which is our headquarters in Houston," said Jim O'Neil, Vice Chairman and Chief Executive Officer of Orbital Energy Group. "Dan has done a tremendous job for me as CFO and built a great team. We respect his decision to remain in Portland where he has a strong foundation of friends and family, and I wish him much success in his future endeavors,"
"I have had the pleasure of working with Nick in the past. His knowledge, expertise, and relationships with key stakeholders in the infrastructure markets we serve are unparalleled," concluded Mr. O'Neil, "We are very fortunate to have Nick as a member of our leadership team as we profitably grow OEG for years to come."
Mr. Grindstaff has more than 20 years of experience in the infrastructure services industry. Most recently, he served as Vice President – Finance and Treasurer at Quanta Services, a leading international provider of specialty contracting services. Mr. Grindstaff holds a Master of Science degree in Accounting and a Bachelor of Science in Finance from the University of Houston – Clear Lake.
"I am excited to join the Orbital Energy team and to work with Jim again. The company has made great strides in their transformation of becoming a full-service infrastructure platform and I look forward to contributing toward execution of their strategic objectives," said Mr. Grindstaff.
About Orbital
Orbital Energy Group, Inc. (Nasdaq: OEG) is creating a diversified energy services platform through the acquisition and development of innovative companies. Orbital Energy's group of businesses includes Orbital Power Services, Orbital Solar Services, Orbital Telecom Services and Orbital Gas Systems.
Orbital Power Services provides engineering, construction, maintenance and emergency response solutions to the power, utilities, and midstream markets.
Orbital Solar Services provides engineering, procurement, and construction ("EPC") expertise in the renewable energy industry and established relationships with solar developers and panel manufacturers in the utility scale solar market.
Orbital Telecom Services, operating as Gibson Technical Services, has nationwide locations equipped to effectively support multi-vendor OEM technology environments and outside plant construction operations on an as-needed basis with specialized services in broadband, wireless, outside plant and building technologies, including healthcare. Orbital Gas Systems is a 30-year leader in innovative gas solutions, serving the energy, power and processing markets through the design, installation and commissioning of industrial gas sampling, measurement, and delivery systems.
As a publicly traded company, Orbital Energy is dedicated to maximizing shareholder value. But most important, our commitment to conduct business with a high level of integrity, respect, and philanthropic dedication allows the organization to make a difference in the lives of their customers, employees, investors, and global community.
For more information please visit: www.orbitalenergygroup.com
Forward Looking Statements
This press release contains certain 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 and Private Securities Litigation Reform Act, as amended, including those relating to the expected use of proceeds. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by the forward-looking statements. Such factors include the risk factors set forth in the Company's filings with the SEC, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2020, its periodic reports on Form 10-Q, and its Current Reports on Form 8-K filed in 2020 and 2021, as well as the risks identified in the shelf registration statement and the prospectus supplement relating to the offering. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. Orbital undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Relations:
Three Part Advisors
John Beisler or Steven Hooser
817-310-8776
investors@orbitalenergygroup.com
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SOURCE Orbital Energy Group, Inc.
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