Sunworks Announces Streamlining of Board of Directors
19 Dezember 2017 - 10:05PM
Sunworks, Inc. (Nasdaq:SUNW), a premier provider of high
performance solar power solutions for agriculture, commercial,
industrial (ACI), public works and residential markets, today
announced the Company has reduced the size of its Board of
Directors from eight to five as part of a strategic effort to
streamline board operations.
As part of this effort the following directors have resigned
from the Board of Directors:
- Abe Emard, who has served as a director since February 2016 and
will continue in an operational and sales leadership role with the
Company
- Brigham Tomco, who has served as a director since April
2015
- John Van Slooten, who has served as a director since December
2014
As a result, of these changes the Sunworks Board of Directors is
now comprised of five directors, three of whom are independent.
Jim Nelson, Sunworks’ Chairman, commented, “We appreciate the
contributions Abe, Brigham and John made to the Company and the
Board of Directors during their tenure. Abe remains a key member of
our operations and sales team, and we wish Brigham and John all the
best in their future endeavors.”
Chuck Cargile, Sunworks’ Chief Executive Officer said, “Our
Board, with eight directors, was too large for a company our size,
and reducing the number of executives who serve on our board is the
first step in a plan to streamline corporate oversight and better
align the expertise of our board with our current business
strategy. I join Jim and the remainder of the board in thanking
Abe, Brigham and John for their dedication and professionalism, and
appreciate their willingness to step aside to facilitate a smaller
and less expensive Board of Directors. We remain committed to
creating sustainable shareholder value, and believe this transition
is a key step toward achieving that important goal.”
About Sunworks, Inc.
Sunworks, Inc. (NASDAQ:SUNW) is a premier
provider of high performance solar power systems. We are committed
to quality business practices that exceed industry standards and
uphold our ideals of ethics and safety.
Sunworks continues to grow its presence,
expanding nationally with regional and local offices. We strive to
consistently deliver high quality, performance oriented solutions
for customers in a wide range of industries including agricultural,
commercial and industrial, federal, public works, and
residential.
Our dedication to excellence is reflected in our
25-year warranty, a benchmark that we stand by to support our
customers above and beyond their expectations.
Sunworks’ diverse, seasoned workforce includes
distinguished veterans who bring a sense of pride, discipline, and
professionalism to their interaction with customers.
All of our employees uphold our company’s
guiding principles each day. Sunworks is a member of the Solar
Energy Industries Association (SEIA) and is a proud advocate for
the advancement of solar power.
Safe Harbor Statement
Matters discussed in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements contained
herein. Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, these they are based
largely on the expectations of the Company and are subject to a
number of risks and uncertainties. These risks include, but are not
limited to, risks and uncertainties associated with: the impact of
economic, competitive and other factors affecting the Company and
its operations, markets, products, and prospects for sales, failure
to earn profit or revenue, higher costs than expected, persistent
operating losses, ownership dilution, inability to repay debt,
failure of acquired businesses to perform as expected, the impact
on the national and local economies resulting from terrorist
actions, and U.S. actions subsequently; and other factors detailed
in reports filed by the Company. We also refer you to the risks
described in “Risk Factors” in Part I, Item 1A of Sunworks, Inc.’s
Annual Report on Form 10-K and in the other reports and documents
we file with the Securities and Exchange Commission from time to
time.
Any forward-looking statement made by us in this
press release is based only on information currently available to
us and speaks only as of the date on which it is made. We undertake
no obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
Investor Relations Contact:
Rob Fink Hayden IR646-415-8972
rob@haydenir.com
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