ORBITAL ENERGY GROUP ANNOUNCES STRATEGIC REORGANIZATION OF ITS SOLAR DIVISION AND APPOINTMENT OF ROBERT BURNS AS PRESIDENT OF ORBITAL SOLAR SERVICES
Orbital Energy Group (OEG) announced a strategic reorganization within its Solar Division, appointing Robert Burns as president of Orbital Solar Services (OSS) effective April 25, 2022. As OSS becomes part of the telecom division, Mike McCracken will lead both OSS and Gibson Technical Services (GTS). Burns brings over 30 years of solar construction experience, having managed projects worth up to $130 million. The leadership change aims to enhance the efficiency and profitability of the Solar Division, with expectations of increased shareholder value.
- Appointment of Robert Burns as president of OSS expected to enhance leadership.
- Burns brings over 30 years of industry experience and a proven track record in solar projects.
- Management anticipates improved efficiency and profitability in the Solar Division.
- Concerns regarding continuity and experience gaps following the organizational changes.
New Structure and Accomplished Executive Team Designed to Further Accelerate Solar Division's Efficiency and Profitability
HOUSTON, April 26, 2022 /PRNewswire/ -- Orbital Energy Group, Inc. (NASDAQ: OEG) ("OEG" or the "Company") today announced the reorganization of its Solar Division and appointment of Robert Burns as president of its subsidiary, Orbital Solar Services (OSS), effective April 25, 2022.
Effective immediately, OSS is now a part of OEG's telecom division, Gibson Technical Services ("GTS"). Mike McCracken, GTS's chief executive officer, will become chief executive officer of both entities, GTS and OSS. Long-term GTS executive, Jon Martin, will become president of GTS, while Scott Stokes, GTS's chief technical officer, will assume that role for both GTS and OSS.
The Company, as part of the reorganization, announces that industry veteran Robert Burns has joined as OSS's new President. Mr. Burns has more than 30 years construction expertise with a particular focus in the solar industry. He has extensive experience in all aspects of construction operations, pre- construction, budgetary controls for projects and segments, and business development for all sectors.
Mr. Burns background includes more than 6 GW of solar renewable projects completed with continuous advancement in company grade level and compensation. He has managed a large assortment of construction projects from
"We are proud to welcome Robert Burns to lead our renewable strategies. Robert is an incredibly accomplished executive with extensive construction and renewable sector experience, making him an ideal choice to lead this segment," said Jim O'Neil, OEG's Vice-Chairman & CEO. "We believe that Robert's expertise, coupled with Mike's proven track record of success in delivering large projects on time and under budget will greatly enhance the efficiency and profitability of our Solar Division. We look forward to benefiting from Robert's knowledge and leadership."
"We are very pleased to welcome an experienced industry professional such as Robert Burns to the OEG/OSS team," said Mike McCracken, Chief Executive Officer of GTS and OSS. "He brings considerable expertise in areas vital to OSS, particularly in the management of large, utility scale solar installations. He is a seasoned leader in the solar energy sector with an exceptional network and understanding of industry fundamentals."
Mr. Burns commented, "I am delighted to join a progressive, growth-oriented company such as OSS. I am looking forward to contributing to the Company's further profitable growth; enhancing the operation of OSS; and increasing shareholder value, as OEG and OSS increases its commercial footprint within the infrastructure services industry."
About Orbital Energy Group
Orbital Energy Group, Inc. (Nasdaq: OEG) is a diversified infrastructure services platform, providing engineering, design, construction, and maintenance services to customers in the electric power, telecommunications, and renewable industries.
Orbital Energy Group is dedicated to maximizing shareholder value, by striving to exceed our customers' expectations, building a diverse workforce and making a positive difference in the lives of our employees and the communities in which we operate, and contributing to reducing the carbon footprint through the services we provide.
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
View original content to download multimedia:https://www.prnewswire.com/news-releases/orbital-energy-group-announces-strategic-reorganization-of-its-solar-division-and-appointment-of-robert-burns-as-president-of-orbital-solar-services-301532976.html
SOURCE Orbital Energy Group, Inc.
FAQ
What leadership change occurred at Orbital Energy Group on April 25, 2022?
How does the reorganization impact the Solar Division of Orbital Energy Group?
What experience does Robert Burns bring to Orbital Solar Services?
Who is now leading both Orbital Solar Services and Gibson Technical Services?
What is the expected outcome of the appointment of Robert Burns?
