SHARC Energy Announces Board of Director Changes
SHARC Energy (OTCQB: INTWF) has announced significant changes to its Board of Directors. Fred Andriano has been appointed as Chairman of the Board and Executive Officer, replacing founder Lynn Mueller, who will remain as Vice Chairman and Executive Officer. Andriano brings 20 years of experience in the heating and cooling energy sector, with previous roles including VP of Finance at NIBE North America and CFO at WaterFurnace International.
The company also announced the retirement of Eleanor Chiu from the Board after nearly six years of service. Chiu, who holds a 5% stake in the company, will be succeeded by Andriano as Chairman of the Audit Committee. These leadership changes are part of SHARC Energy's strategic move to accelerate growth, expand markets, and improve profitability in the Wastewater Energy Transfer sector.
SHARC Energy (OTCQB: INTWF) ha annunciato importanti cambiamenti nel suo Consiglio di Amministrazione. Fred Andriano è stato nominato Presidente del Consiglio e Dirigente Esecutivo, sostituendo il fondatore Lynn Mueller, che rimarrà Vicepresidente e Dirigente Esecutivo. Andriano porta con sé 20 anni di esperienza nel settore dell'energia per riscaldamento e raffreddamento, avendo ricoperto in precedenza ruoli come VP Finance presso NIBE North America e CFO presso WaterFurnace International.
L'azienda ha anche annunciato il pensionamento di Eleanor Chiu dal Consiglio dopo quasi sei anni di servizio. Chiu, che detiene una quota del 5% della società, sarà sostituita da Andriano come Presidente del Comitato di Revisione. Questi cambiamenti nella leadership fanno parte della strategia di SHARC Energy per accelerare la crescita, espandere i mercati e migliorare la redditività nel settore del Trasferimento di Energia dalle Acque Reflue.
SHARC Energy (OTCQB: INTWF) ha anunciado cambios significativos en su Junta Directiva. Fred Andriano ha sido nombrado Presidente de la Junta y Ejecutivo Principal, reemplazando al fundador Lynn Mueller, quien permanecerá como Vicepresidente y Ejecutivo Principal. Andriano aporta 20 años de experiencia en el sector energético de calefacción y refrigeración, habiendo desempeñado anteriormente cargos como VP de Finanzas en NIBE North America y CFO en WaterFurnace International.
La compañía también anunció la jubilación de Eleanor Chiu de la Junta tras casi seis años de servicio. Chiu, que posee una participación del 5% en la empresa, será sucedida por Andriano como Presidente del Comité de Auditoría. Estos cambios en el liderazgo forman parte de la estrategia de SHARC Energy para acelerar el crecimiento, expandir mercados y mejorar la rentabilidad en el sector de Transferencia de Energía de Aguas Residuales.
SHARC Energy(OTCQB: INTWF)는 이사회에 중대한 변화를 발표했습니다. Fred Andriano가 이사회 의장 겸 임원으로 임명되어 창립자 Lynn Mueller를 대신했으며, Mueller는 부의장 겸 임원으로 남게 됩니다. Andriano는 난방 및 냉방 에너지 분야에서 20년의 경험을 보유하고 있으며, 이전에는 NIBE North America의 재무 부사장과 WaterFurnace International의 CFO를 역임했습니다.
회사는 또한 거의 6년간 이사회에서 활동한 Eleanor Chiu의 은퇴도 발표했습니다. 회사 지분 5%를 보유한 Chiu는 감사위원회 의장 자리에서 Andriano에게 자리를 넘기게 됩니다. 이러한 리더십 변화는 폐수 에너지 전송 부문에서 성장 가속화, 시장 확장 및 수익성 향상을 위한 SHARC Energy의 전략적 조치의 일환입니다.
SHARC Energy (OTCQB: INTWF) a annoncé des changements importants au sein de son conseil d'administration. Fred Andriano a été nommé président du conseil et dirigeant exécutif, remplaçant le fondateur Lynn Mueller, qui restera vice-président et dirigeant exécutif. Andriano apporte 20 ans d'expérience dans le secteur de l'énergie de chauffage et de refroidissement, ayant occupé auparavant des postes tels que vice-président des finances chez NIBE North America et directeur financier chez WaterFurnace International.
L'entreprise a également annoncé la retraite d'Eleanor Chiu du conseil après près de six ans de service. Chiu, qui détient une participation de 5% dans la société, sera remplacée par Andriano en tant que président du comité d'audit. Ces changements de direction s'inscrivent dans la stratégie de SHARC Energy visant à accélérer la croissance, étendre les marchés et améliorer la rentabilité dans le secteur du transfert d'énergie des eaux usées.
SHARC Energy (OTCQB: INTWF) hat bedeutende Veränderungen in seinem Vorstand bekannt gegeben. Fred Andriano wurde zum Vorstandsvorsitzenden und geschäftsführenden Direktor ernannt und ersetzt damit den Gründer Lynn Mueller, der als stellvertretender Vorsitzender und geschäftsführender Direktor im Amt bleibt. Andriano bringt 20 Jahre Erfahrung im Heiz- und Kühlenergiesektor mit, zuvor war er unter anderem Finanz-Vizepräsident bei NIBE North America und CFO bei WaterFurnace International.
Das Unternehmen gab außerdem den Rücktritt von Eleanor Chiu aus dem Vorstand nach fast sechs Jahren bekannt. Chiu, die einen 5%igen Anteil am Unternehmen hält, wird von Andriano als Vorsitzender des Prüfungsausschusses abgelöst. Diese Führungswechsel sind Teil der strategischen Initiative von SHARC Energy, das Wachstum zu beschleunigen, Märkte zu erweitern und die Rentabilität im Bereich der Energieübertragung aus Abwasser zu verbessern.
- Appointment of experienced industry veteran Fred Andriano with 20 years in heating/cooling sector
- Strategic leadership restructuring aimed at accelerating growth and market expansion
- Retention of founder Lynn Mueller on the board ensuring continuity
- Departing board member Eleanor Chiu maintains 5% ownership, showing confidence in company
- Loss of long-term board member Eleanor Chiu and her valuable experience
- Potential disruption in leadership during transition period
VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce that Fred Andriano has been named Chairman of the Board of Directors (“BOD”) and Executive Officer. Mr. Andriano replaces SHARC Energy’s founder Lynn Mueller as Executive Chairman. Mr. Mueller will remain on the Board as Vice Chairman and Executive Officer of the Company.
Mr. Andriano has extensive experience and expertise in finance, accounting, corporate governance, mergers and acquisitions. He has been in the heating and cooling energy sector for 20 years. He formally was the Vice President of Finance and Administration - NIBE North America for NIBE Industrier AB. Prior to that he was Chief Financial Officer, Treasurer and Secretary for WaterFurnace International, Inc. Furthermore, he spent 6 years as Chief Financial Officer of a regional M&A firm.
“I am very appreciative for the opportunity to help guide the Company’s Board and management team as we strategize for expansion and growth. The Company has tremendous products, applications and dedicated team members and it’s time we leveraged their strengths while we continue to build awareness of the opportunities SHARC Energy’s products present to the heat transfer sector,” stated Mr. Andriano.
Mr. Mueller added, “The additions of Michael as CEO and Fred as Executive Chair marks a significant day in the evolution of SHARC Energy’s maturity,” says Mr. Mueller. “These moves validate SHARC Energy as an emerging player in the industry with superior Wastewater Energy Transfer products and proven executives with successful track records in the thermal energy, heat transfer and hydronic space to augment the team.”
The appointment will strategically accelerate the Company’s growth and improve its ability to expand its markets, products and geographical reach. The Company anticipates future strategic moves enabling SHARC Energy to grow revenue and improve profitability.
The Company also has the bittersweet task of announcing the BOD has accepted the retirement and resignation of Eleanor Chiu. Mrs. Chiu has been a director for just shy of six years, consistently adding valued insight, business acumen and astute counsel to both management and the Board. She leaves SHARC Energy as a strong believer and long-term shareholder, holding
“I am pleased to be leaving the BOD in good hands with addition of Fred as Chairman. In the short time that I have known Fred, he brings a strong understanding of the corporate governance policies and procedures needed for a public company to grow and mature. With the additions of Michael and Fred to augment Lynn and Hanspaul, I remain confident in the opportunity SHARC Energy and Wastewater Energy Transfer present,” says Mrs. Chiu.
“Eleanor has been an important member of the Board and she will be dearly missed. I have leaned on her for nearly six years. She will always be remembered as one of the instrumental members that built the foundation the Company will grow on for years to come. Thank you Eleanor,” stated Mr. Mueller.
Mr.Andriano will take over Mrs. Chiu role as Chairman of the Audit Committee going forward.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy recovery from the wastewater we send down the drain every day. SHARC Energy's systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential, and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.
SHARC Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA) and you can find out more on our SEDAR profile.
Learn more about SHARC Energy: Website | Investor Page | LinkedIn | YouTube | PIRANHA | SHARC
ON BEHALF OF THE BOARD
Fred Andriano
Chairman of the Board
| For investor inquiries, please contact: Hanspaul Pannu Chief Financial & Operating Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: hanspaul.pannu@sharcenergy.com | For media inquiries, please contact: Mike Tanyi Director of Marketing & IT SHARC Energy Telephone: 604.475.7710 Ext.109 Email: mike.tanyi@sharcenergy.com |
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified using words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. SHARC Energy’s actual results could differ materially from those anticipated in this forward-looking information because of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. SHARC Energy believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether because of new information, future events or otherwise, except as required by applicable securities legislation.
FAQ
Who is the new Chairman of SHARC Energy (INTWF) and what is his background?
What happened to SHARC Energy's founder Lynn Mueller?
Why did Eleanor Chiu leave SHARC Energy's board?
What are the strategic implications of SHARC Energy's board changes?
