Yvon Cariou Retires From DMC Global’s Board of Directors
DMC Global Inc. (Nasdaq: BOOM) announced the retirement of Yvon Cariou from its Board of Directors after over two decades of service.
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Rhea-AI Summary
DMC Global Inc. (Nasdaq: BOOM) announced the retirement of Yvon Cariou from its Board of Directors after over two decades of service. Cariou, who served as president and CEO from 2000 to 2013, did not seek reelection at the recent stockholders' meeting. CEO Kevin Longe expressed gratitude for Cariou's contributions. In preparation for this transition, Ruth Dreessen was appointed as an independent director in October 2020. DMC continues to focus on supporting businesses within its diversified portfolio, including DynaEnergetics and NobelClad, targeting niche markets globally.
Positive
- Yvon Cariou contributed over two decades of service, providing stability and leadership.
- The appointment of Ruth Dreessen as an independent director reflects proactive governance.
Negative
- The retirement of Cariou may raise concerns about continuity and leadership experience.
Details
News Market Reaction – BOOM
The recorded move for BOOM in the trading session of this news was -2.29%.
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BROOMFIELD, Colo., May 12, 2021 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today announced Yvon Cariou has retired from the Company’s Board of Directors. Mr. Cariou, 75, was appointed to DMC’s board in 2006 and was the Company’s president and CEO from 2000 to 2013. He did not stand for reelection at today’s annual meeting of stockholders.
Kevin Longe, president and CEO, said, “On behalf of the board of directors and the entire DMC family, I want to thank Yvon for his more than two decades of dedicated service to the Company and its stakeholders. We are extremely grateful for his many contributions, and wish him an enjoyable and rewarding retirement.”
In anticipation of Mr. Cariou’s retirement, Ruth Dreessen was appointed to DMC’s board as an independent director in October 2020.
About DMC
DMC Global is a diversified holding company. Our innovative businesses provide differentiated products and services to niche industrial and commercial markets around the world. DMC’s objective is to identify well-run businesses and strong management teams and support them with long-term capital and strategic, legal, technology and operating resources. Our approach helps our portfolio companies grow core businesses, launch new initiatives, upgrade technologies and systems to support their long-term strategy, and make acquisitions that improve their competitive positions and expand their markets. DMC’s culture is to foster local innovation versus centralized control, and stand behind our businesses in ways that truly add value. Today, DMC’s portfolio consists of DynaEnergetics and NobelClad, which collectively address the energy, industrial processing and transportation markets. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit the Company’s website at: http://www.dmcglobal.com
CONTACT:
Geoff High
Vice President of Investor Relations
303-604-3924
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