CDTi Appoints Matthew Beale as CEO
22 Oktober 2015 - 2:00PM
- Automotive industry executive brings extensive
international cleantech leadership experience - - Chris Harris will
continue as President and become COO -
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or "the
Company"), a leader in advanced emission control technology, has
appointed Matthew Beale, 48, as CEO effective October 19, 2015.
Beale has served on the CDTi Board of Directors since September
2014 and was Chairman of the Audit Committee. Chris Harris, who
became President and CEO in July 2014, will continue in his
position as President and assume the role of COO.
"A recognized cleantech industry leader, Matthew brings to CDTi
a wide range of international experience driving growth and
change," said Chairman Charles Engles, Ph.D. "International markets
are prime targets in our major business development campaign to
commercialize the Company's new advanced catalyst technologies and
expand distribution of current products. With Matthew's addition to
the leadership team, we look forward to accelerating our
penetration of these markets. We are delighted Matthew is taking a
key role at this exciting time for CDTi."
"CDTi has made substantial progress in its strategic
repositioning as an advanced materials provider for the global
emissions control market—the success of which provides a clear
foundation for achieving scale and profitability," stated Beale.
"The market environment has never been more favorable for CDTi's
technology and I look forward to working with our team in driving
strategic initiatives that enable the Company to capitalize on a
large and growing market opportunity."
"We continue to make significant progress on the
commercialization of our advanced materials strategy," added
Harris. "Matthew's corporate, business development and
international finance expertise greatly expands the capabilities of
our executive team, and we are excited to have him as our new
CEO."
About Matthew Beale
Mr. Beale joined CDTi's board of directors in 2014. From May
2013 until September 2015, Mr. Beale served as Group Strategy
Officer at Landi Renzo SpA (MIL:LR), a multinational engineering
and manufacturing company based in Italy focused on alternative
fuel systems and components for OEM and aftermarket automotive
applications. From July 2012 to April 2013, Mr. Beale was a
strategy consultant to the alternative fuel systems industry
focused on business and capital markets strategies. Prior to that,
he held several leadership positions at Fuel Systems Solutions,
Inc., a producer of fuel systems and components for automotive and
industrial markets, including: Co-President and Head of IMPCO
Operations from April 2011 to June 2012; Chief Financial Officer
from May 2009 to March 2011; President and Secretary from May 2008
to March 2011; and Vice President of Business Development from
February 2007 to April 2008. Previously, Mr. Beale held
international corporate finance and banking positions with CVS
Partners from 2005 to 2007; with Citigroup Inc. from 2000 to 2004;
and with JP Morgan from 1994 to 2000. Mr. Beale received a BA in
English Literature from the University of London, a Diploma in
Accounting and Finance from the London School of Economics, and an
MBA from IESE Business School.
About CDTi
CDTi manufactures and distributes vehicle emissions control
products that leverage its advanced materials technology. CDTi
utilizes its proprietary technology to provide high-value
sustainable solutions to reduce emissions, increase energy
efficiency and lower the carbon intensity of on- and off-road
combustion engine systems. Continuing its focus on innovation and a
strategy to scale its business globally, CDTi is pursuing a
Powder-to-Coat (P2C™) business model that exploits
high-performance, advanced low-platinum group metal (PGM) emission
reduction catalysts. Key technology platforms include Mixed Phase
Catalyst (MPC®), Base Metal Activated Rhodium Support (BMARS™),
Synergized PGM (SPGM™), Zero PGM (ZPGM™) and Spinel™. CDTi is
headquartered in Oxnard, California and has operations in Canada,
Japan, the United Kingdom and Sweden. For more information, please
visit www.cdti.com.
Forward-Looking Statements
Certain information contained in this press release constitutes
forward-looking statements, including any statements contained
herein that are not statements of historical fact. You can identify
these forward-looking statements by the use of the words
"believes", "expects", "anticipates", "plans", "may", "will",
"would", "intends", "estimates", "promises", and other similar
expressions, whether in the negative or affirmative.
Forward-looking statements are based on a series of expectations,
assumptions, estimates and projections which involve substantial
uncertainty and risk. In this press release, the Company includes
forward looking statements regarding the commercialization of
CDTi's catalyst technologies, including the acceleration of the
distribution of its products. In general, actual results may differ
materially from those indicated by such forward-looking statements
as a result of risks and uncertainties, including, but not limited,
to (i) any inability by CDTi to (1) realize the benefits of
investments; (2) successfully transition into an advanced materials
supplier; (3) execute its strategic priorities; (4) commercialize
its technology due to agreements with third parties; (5) protect
its intellectual property; (6) obtain verifications, approvals or
market acceptance of its products or technology; (7) achieve
anticipated results; or (8) successfully open and maintain the four
new distribution centers; (ii) changes in or lack of enforcement of
or funding for emissions programs, regulations or standards; (iii)
competitive conditions; (iv) prices of PGM and rare earth metals;
(v) intellectual property infringement allegations; (vi) inability
to meet emissions control standards; and (vii) other risks and
uncertainties discussed or referenced in the Company's filings with
the Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K. In addition, any forward-looking
statements represent the Company's estimates only as of the date of
such statements and should not be relied upon as representing the
Company's estimates as of any subsequent date. The Company
specifically disclaims any obligation to update forward-looking
statements. All forward-looking statements in this press release
are qualified in their entirety by this cautionary statement.
Contact Information: Becky Herrick or Cathy
Mattison LHA (IR Agency) +1 415 433 3777 bherrick@lhai.com
cmattison@lhai.com
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