Spark Energy, Inc. Announces Management Changes
December 14 2018 - 4:05PM
Spark Energy, Inc. ("Spark" or the "Company") (NASDAQ: SPKE), an
independent retail energy services company, today announced the
resignation of Gil Melman, Spark’s Vice President, General Counsel,
and Corporate Secretary. Mr. Melman is resigning to pursue
other opportunities, effective December 31, 2018.
“It is with mixed feelings that we have accepted
Gil’s resignation,” said Nathan Kroeker, Spark’s President and
Chief Executive Officer. “He has been an important member of
Spark’s management team for the past five years, and has been
instrumental in our growth, our acquisitions, and our initial
public offering. We wish him the best of luck in his future
endeavors.”
C. Alexis Keene, currently Spark’s Deputy
General Counsel, will be Spark’s Interim General Counsel and
Corporate Secretary. Spark has begun a process to appoint a
permanent successor for Mr. Melman.
“We are very fortunate to have Alexis here at
Spark,” continued Kroeker. “With nearly three decades of
experience, a deep knowledge of our business, and the trust and
respect of her colleagues within the organization and throughout
the industry, we expect a very smooth transition.”
About Spark Energy, Inc.
Spark Energy, Inc. is an established and growing
independent retail energy services company founded in 1999 that
provides residential and commercial customers in competitive
markets across the United States with an alternative choice for
their natural gas and electricity. Headquartered in Houston, Texas,
Spark currently operates in 19 states and serves 94 utility
territories. Spark offers its customers a variety of product and
service choices, including stable and predictable energy costs and
green product alternatives.
We use our website as a means of disclosing
material non-public information and for complying with our
disclosure obligations under Regulation FD. Investors should note
that new materials, including press releases, updated investor
presentations, and financial and other filings with the Securities
and Exchange Commission are posted on the Spark Energy Investor
Relations website at ir.sparkenergy.com. Investors are urged to
monitor our website regularly for information and updates about the
Company.
Cautionary Note Regarding Forward
Looking Statements
This press release contains forward-looking
statements that are subject to a number of risks and uncertainties,
many of which are beyond our control. These forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended (the “Securities Act”) and Section 21E of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)
can be identified by the use of forward-looking terminology
including “may,” “should,” “likely,” “will,” “believe,” “expect,”
“anticipate,” “estimate,” “continue,” “plan,” “intend,” “projects,”
or other similar words. All statements, other than statements of
historical fact included in this press release, regarding strategy,
future operations, financial position, estimated revenues and
losses, projected costs, prospects, plans, objectives and beliefs
of management are forward-looking statements. Forward-looking
statements appear in a number of places in this press release and
may include statements about business strategy and prospects for
growth, customer acquisition costs, ability to pay cash dividends,
cash flow generation and liquidity, availability of terms of
capital, competition and government regulation and general economic
conditions. Although we believe that the expectations reflected in
such forward-looking statements are reasonable, we cannot give any
assurance that such expectations will prove correct.
The forward-looking statements in this press
release are subject to risks and uncertainties. Important factors
that could cause actual results to materially differ from those
projected in the forward-looking statements include, but are not
limited to:
- changes in commodity prices and the sufficiency of risk
management and hedging policies;
- extreme and unpredictable weather conditions, and the impact of
hurricanes and other natural disasters;
- federal, state and local regulation, including the industry's
ability to address or adapt to potentially restrictive new
regulations that may be enacted by the New York Public Service
Commission;
- our ability to borrow funds and access credit markets and
restrictions in our debt agreements and collateral
requirements;
- credit risk with respect to suppliers and customers;
- changes in costs to acquire customers and actual customer
attrition rates;
- accuracy of billing systems;
- whether our majority stockholder or its affiliates offer us
acquisition opportunities on terms that are commercially acceptable
to us;
- ability to successfully identify and complete, and efficiently
integrate acquisitions into our operations;
- competition; and
- the “Risk Factors” in our latest Annual Report on Form 10-K,
and in our quarterly reports, other public filings and press
releases.
You should review the risk factors and other
factors noted throughout or incorporated by reference in this press
release that could cause our actual results to differ materially
from those contained in any forward-looking statement. All
forward-looking statements speak only as of the date of this press
release. Unless required by law, we disclaim any obligation to
publicly update or revise these statements whether as a result of
new information, future events or otherwise. It is not possible for
us to predict all risks, nor can we assess the impact of all
factors on the business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking
statements.
Contact: Spark Energy, Inc.
Investors: Christian Hettick,
832-200-3727 Media: Kira Jordan, 832-255-7302
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