IKONICS Announces Chief Executive Officer Transition
January 07 2020 - 5:00PM
IKONICS Corporation (the “Company”) (Nasdaq: IKNX) announced today
that William C. Ulland, President, Chief Executive Officer and
Chairman of the Board of Directors (the “Board”) of the Company,
will retire as President and Chief Executive Officer effective
February 10, 2020, and that the Board has elected Glenn Sandgren,
to succeed him. Mr. Ulland will continue in his role as Chairman of
the Board. Mr. Sandgren will also serve on the Company’s
Board.
“I am extremely proud of how IKONICS has evolved as a leading
imaging technology company, and I’m very confident that IKONICS
will deliver sustained profitable growth into the future,” said
Ulland. “I am also excited that Glenn will become our Company’s
next CEO. Glenn has a track record of building great teams and
growing business. I am incredibly excited to watch Glenn lead
IKONICS into our next era of growth.”
“We thank Bill for his exceptional contributions over the course
of his 19 year career as the CEO and President of IKONICS and his
43 years as Chairman of the Board. The Company has grown and
evolved under his leadership,” said Sandgren. “Today, the business
continues to gain market share and the quality of the people and
products are unmatched. I am honored to lead this Company into the
future.”
Prior to joining IKONICS, Sandgren was the President of
Pallidus. In this role he was responsible for overseeing the
expansion of the silicon carbide crystal production facility and
driving the technology and business development. Previously
Sandgren served as the Vice President of Silicon Carbide Products
for Melior Innovations, Vice President and Business Unit Manager
for Polysciences, Inc., and held senior positions with Owens
Corning and GE Plastics. His 30 years’ experience leading
materials innovation and growth organizations in key markets make
him ideally suited to IKONICS. Sandgren has a Mechanical
Engineering degree from Purdue, and an MBA from Central Michigan
University.
This press release contains forward-looking
statements that are not historical facts, including statements
about the beliefs, expectations, estimates, future plans and
strategies of the Company. These statements are based on current
expectations and assumptions, which management believes are
reasonable, and on information currently available to management,
but are necessarily subject to various risks and uncertainties. In
addition to the risk that these assumptions prove to be inaccurate,
factors that could cause actual results to differ materially from
those contemplated by the forward-looking statements include
factors disclosed in the Company's Forms 10-K, and 10-Q, and other
reports on file with the SEC.
ISO 9001 CertifiedNASDAQ Listed: IKNX
News Contact: Bill
Ulland
Chairman, President
& CEO
(218)
628-2217
Ikonics (NASDAQ:IKNX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ikonics (NASDAQ:IKNX)
Historical Stock Chart
From Apr 2023 to Apr 2024