Perma-Fix Appoints Lieutenant General (Ret.) Thomas P. Bostick to Board of Directors

Rhea-AI Summary

Perma-Fix Environmental Services Inc. (NASDAQ:PESI) has appointed Lieutenant General (Ret.) Thomas P. Bostick to its Board of Directors. General Bostick, a former U.S. Army Chief of Engineers, brings extensive experience overseeing major infrastructure and environmental projects. His role aims to enhance Perma-Fix's growth strategy, especially in expanding into the U.S. Department of Defense and commercial sectors. CEO Mark Duff highlighted Bostick's operational expertise as a key asset for the company's future endeavors in environmental remediation.

Positive

• Appointment of General Bostick expected to enhance strategic growth efforts.
• General Bostick's extensive experience in infrastructure and military projects adds valuable insight.

Negative

• None.

Former Army Chief of Engineers and Commanding General of US Army Corps of Engineers

Led the world's largest public engineering organization

ATLANTA, GA / ACCESSWIRE / August 13, 2020 / Perma-Fix Environmental Services Inc. (NASDAQ:PESI), today announced that Lieutenant General (Ret.) Thomas P. Bostick, PhD, PE, NAE ("General Bostick") has been appointed to the Company's Board of Directors.

General Bostick had a distinguish career in the U.S. military. He retired as the 53rd U.S. Army Chief of Engineers and the Commanding General of the U.S. Army Corps of Engineers (USACE) serving as the senior military officer, overseeing and supervising most of the Nation's civil works infrastructure and military construction, hundreds of environmental protection projects, as well as managing 34,000 civilian employees and military personnel in over 110 countries around the world. As the Chief of Engineers, General Bostick led a $5 billion recovery program after Superstorm Sandy.

General Bostick currently serves as the Managing Partner, Sustainability, of Ridge-Lane Limited Partners, a position he has held since July 2016. Ridge-Lane Limited Partners is a strategic advisory and venture development firm focused on root-cause solutions to grand challenges in education, sustainability, and information technology, with a team of general partners, venture partners, and senior advisors who serve at the highest level of finance, government, and military. He previously served as the Chief Operating Officer and President of Intrexon Bioengineering from November 2017 to February 2020, a division of Intrexon Corporation (formerly NASDAQ: XON; now NASDAQ: PGEN).

Before his command of USACE, General Bostick served in a variety of command and staff assignments with the U.S. Army both in the U.S. and abroad including the Deputy Chief of Staff, G-1, Personnel, U.S. Army; Commanding General, U.S. Army Recruiting Command; Assistant Division Commander, 1st Cavalry Division; Executive Officer to the Chief of Engineers; Executive Officer to the Army Chief of Staff; and Deputy Director of Operations for the National Military Command Center, J-3, the Joint Staff in the Pentagon.

General Bostick's military honors and decorations include the Distinguished Service Medal, the Defense Superior Service Medal, the Bronze Star, the Legion of Merit with two oak leaf clusters, the Defense Meritorious Service Medal, the Meritorious Service Medal with four oak leaf clusters, the Joint Service Commendation Medal, the Army Commendation Medal, the Army Achievement Medal with one oak leaf cluster, the Combat Action Badge, the U.S Parachutist badge, the Army Recruiter Badge, and the Ranger Tab.

General Bostick was a special assistant to the Secretary of Veterans Affairs during his time as a White House Fellow. He graduated with a Bachelor of Science degree from the U.S. Military Academy at West Point and later returned to the Academy to serve as an Associate Professor of Mechanical Engineering. He holds Master's degrees in Civil Engineering and Mechanical Engineering from Stanford University and a Doctorate in Systems Engineering from George Washington University. General Bostick is a Member of the National Academy of Engineering, and the National Academy of Construction.

Mark Duff, Chief Executive Officer, stated, "We are extremely pleased to welcome General Bostick to the Board of Directors. His extraordinary leadership skills and public service over the past four decades, coupled with his expertise in operations, business development, and M&A, will provide an immediate impact to Perma-Fix and our strategic plan for growth. It is an honor to have a Board member with such an extensive background, including oversight of USACE, where he led some of the nation's largest infrastructure, military, construction, and environmental protection projects. We believe his proven track record of execution, particularly as the Commanding General for the USACE, will be invaluable as we expand our markets into the U.S. Department of Defense (DOD) and commercial sectors for both our Treatment and Services Segments. We look forward to working closely with General Bostick for years to come."

General Bostick noted, "It is a great honor to join the Perma-Fix Board of Directors. Through its excellent effort, Perma-Fix helps to address our country's significant environmental remediation requirements. This work is also important for protecting our people and communities. I am excited to join the Board of a company with such an important role in the future of our planet."

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc. is a nuclear and waste management services company, and leading provider of nuclear and mixed waste management services. Its nuclear waste services include managing and treating radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the U.S. Department of Energy (DOE) and DOD, and the commercial sector. The nuclear services group delivers project management and waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to clients. Perma-Fix operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide.

Please visit us at http://www.perma-fix.com.

This press release contains "forward‑looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward‑looking statements include, but are not limited to: strategic plan for growth and expansion of markets into the DOD and commercial sectors. These forward‑looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply and market our new technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; inability to win bid projects; failure of Congress to provides continuing funding for the DOD's and DOE's remediation projects; ability to obtain new foreign and domestic remediation contracts; inability to meet financial covenants; impact of COVID-19; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2019 Form 10-K and Form 10-Q for quarters ended March 31, 2020 and June 30, 2020. The Company makes no commitment to disclose any revisions to forward‑looking statements, or any facts, events or circumstances after the date hereof that bear upon forward‑looking statements.

Contacts:

David K. Waldman-US Investor Relations
Crescendo Communications, LLC
(212) 671-1021

Herbert Strauss-European Investor Relations
herbert@eu-ir.com
+43 316 296 31

SOURCE: Perma-Fix Environmental Services, Inc.

View source version on accesswire.com:
https://www.accesswire.com/601439/Perma-Fix-Appoints-Lieutenant-General-Ret-Thomas-P-Bostick-to-Board-of-Directors

FAQ

Who is the newly appointed board member of Perma-Fix Environmental Services?

Lieutenant General (Ret.) Thomas P. Bostick has been appointed to the board of Perma-Fix Environmental Services.

What is General Bostick's background relevant to Perma-Fix?

General Bostick served as the U.S. Army Chief of Engineers and oversaw numerous significant infrastructure and environmental projects.

How might General Bostick's appointment impact PESI's stock?

His military and engineering background could enhance Perma-Fix's strategic growth, potentially positively influencing investor confidence.

When was General Bostick appointed to the board of Perma-Fix?

He was appointed on August 13, 2020.

What sectors does Perma-Fix plan to expand into under General Bostick's influence?

Perma-Fix aims to expand into the U.S. Department of Defense and commercial sectors.