Tantalus Systems Announces Appointment of Azim Lalani as Chief Financial Officer
Rhea-AI Summary
Tantalus Systems (TSX: GRID) has announced the appointment of Azim Lalani as its new Chief Financial Officer, effective January 13, 2025. Lalani replaces George Reznik, who will depart on January 24, 2025. The new CFO brings significant experience from his previous roles, including CFO positions at AutoCanada (TSX: ACQ), where he managed approximately C$6 billion in revenues, and American Hotel Income Properties REIT, where he oversaw growth from US$350 million to over US$1.1 billion in enterprise value.
At Tantalus, Lalani will oversee financial reporting, accounting, treasury, financial planning, tax, and capital markets planning and investor relations. He currently serves as Corporate Director and Board Chair of UBC Investment Management Trust, managing over C$6.0 billion in assets. The company views this appointment as strategic for its next growth phase and path to profitability.
Positive
- Appointment of experienced CFO with track record of managing multi-billion dollar operations
- New CFO has demonstrated ability to oversee significant business growth (US$350M to US$1.1B)
- Strategic move aligned with company's transition towards profitability phase
Negative
- Departure of current CFO could create temporary transition challenges
Burnaby, British Columbia--(Newsfile Corp. - January 13, 2025) - Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, announced today that Azim Lalani has been appointed as its Chief Financial Officer ("CFO"), effective January 13, 2025. He will replace the current Tantalus CFO, George Reznik, who will be leaving the Company on January 24, 2025.
"We are truly appreciative of the contributions made by George as our CFO and as a key member of our team," said Peter Londa, President & CEO of Tantalus. "George was instrumental in helping Tantalus migrate to the public markets, scaling our business and managing the significant investment required to commercialize the TRUSense Gateway™. We thank George for his contributions and are looking forward to adding Azim to our team. Azim has extensive financial, organizational and capital markets expertise to help the Company as we enter our next phase of growth and profitability."
Lalani was formerly the CFO of AutoCanada (TSX: ACQ), a leading North American automotive dealership group with revenues of approximately C
Lalani is a Corporate Director and Board Chair of UBC Investment Management Trust, a professional investment management company with over C
"As we turn our attention to the opportunity that lies ahead for Tantalus and prepare for an anticipated inflection in our business to profitability, we are excited to add Azim's leadership and depth of skills," said Mr. Londa. "Throughout his career, Azim has been instrumental in laying the foundation that is necessary to support profitable growth and we look forward to his contributions towards the continued evolution of Tantalus."
About Tantalus Systems Holding Inc. (TSX: GRID)
Tantalus is a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data across all their devices and systems deployed throughout the entire distribution grid. We offer a grid modernization platform across multiple levels: intelligent connected devices, communications networks, data management, enterprise applications and analytics. Our solutions provide utilities with the flexibility they need to get the most value from existing infrastructure investments while leveraging advanced capabilities to plan for future requirements. Learn more at http://www.tantalus.com/
Forward-Looking Information:
This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the anticipated contributions to be made by Azim Lalani to the Company, the potential of profitability and accelerated growth of Tantalus, and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and Tantalus disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement.
Contact Tantalus:
Jacquie Hudson
Marketing Communications Manager
613-552-4244 | jhudson@tantalus.com
Deborah Honig
Investor Relations
647-203-8793 | deborah@adcap.ca
Website: www.tantalus.com
LinkedIn: LinkedIn/company/tantalus
X (Formerly Twitter): @TantalusCorp
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236885
FAQ
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