CALGARY, ALBERTA - March 11, 2015 /CNW/ - Newalta Corporation ("Newalta") (TSX:NAL) announced today that Mr. Barry Stewart has retired as Chair of the Board of Directors of Newalta as planned. Mr. Stewart will remain a director of Newalta until the next annual meeting of the shareholders of Newalta which is anticipated to be held on May 7, 2015.
Mr. Gordon Pridham replaces Mr. Stewart as Chair of the Board of Directors of Newalta. Mr. Pridham is an experienced director and board chair with 35 years in investment banking, capital markets, and corporate banking. He has been a member of Newalta's Board since 2004.
"Barry has been a director of Newalta since 2002 and Chair of the Board since 2008. His strong leadership and guidance have made a significant contribution to Newalta's strategic direction and recent transformation into a pure play environmental energy services company," said John Barkhouse, President and Chief Executive Officer of Newalta. "On behalf of the Board, shareholders and employees I thank him for his dedication and contributions to the success of the company."
Mr. Barkhouse continued, "We are looking forward to Gordon's experience as the new Chair, and are confident the Board will continue its focus on creating long-term value for our shareholders and customers under his leadership."
Newalta is a leading provider of innovative engineered environmental solutions that enable customers to reduce disposal, enhance recycling, and recover valuable resources from oil and gas exploration and production waste streams. We serve customers onsite directly at their operations and through a network of more than 50 locations in Canada and the U.S. Our proven processes and excellent record of safety make us the first choice provider of sustainability-enhancing services for oil and gas customers. With a skilled team of more than 1,200 people, a two-decade track record of profitable expansion and a commitment to commercializing new solutions, Newalta is positioned for sustained future growth and improvement. Newalta trades on the TSX as NAL. For more information, visit www.newalta.com.