Pernix Group Names Former Bechtel Vice-Chairman Don J. Gunther as Chairman of the Board and Appoints C. Robert Campbell to th...
January 07 2014 - 9:00AM
Pernix Group, Inc. (OTCQB:PRXG), a global construction and power
infrastructure company, has named Don J. Gunther as Chairman of the
Board pursuant to the recent retirement of Ralph Beck. The Company
also announced the appointment of C. Robert Campbell to the Board
of Directors. The appointment maintains the number of board members
at seven, six of whom are considered independent. Mr. Gunther will
also assume the chairmanship of the Compensation Committee from Mr.
Beck, and Mr. Campbell will become chairman of the Audit Committee
and fill the vacancy on the Compensation Committee created by Mr.
Beck's retirement.
Mr. Gunther is Chairman of the Board of INgage Networks, a
high-tech company that is a leading enterprise networking
organization. He is also a director of WPX Energy, Inc., an oil and
gas exploration and production company. Previously, until his
retirement in 1999, Mr. Gunther was Vice Chairman and Director of
the Bechtel Group, where he had responsibility for all of the
global industry units and all corporate functions, including
project management, engineering, procurement, construction,
information services, information technology and contracts. Mr.
Gunther's 38-year career with Bechtel began in 1961, when he joined
the company as a field engineer and ultimately became a driving
force behind Bechtel's work processes, marketing strategies,
organizational structure and leadership development efforts. Mr.
Gunther received a bachelor's degree in civil engineering, and an
honorary doctorate, from Missouri University of Science and
Technology, and served as a trustee and advisor to the
University.
Mr. Campbell brings a vast amount of financial management
experience to the Board after having served in executive level
positions for several publicly traded companies. For the past nine
years until his retirement on December 31, 2013, Mr. Campbell
served as Executive Vice President and Chief Financial Officer of
MasTec, Inc. (NYSE:MTZ), a $2.5 billion market capitalization
infrastructure construction company based in Coral Gables, Florida.
MasTec is engaged in the engineering, building, installation,
maintenance, and upgrade of energy, utility and communications
infrastructure primarily in North America. While at MasTec, Mr.
Campbell led the financing and structuring of over 20 corporate
acquisitions. In total, he has been intimately involved in over 100
acquisitions throughout his career. Prior to joining MasTec, Mr.
Campbell served in many roles, including Chief Executive Officer,
Chief Financial Officer, Chief Administrative Officer and Head of
Planning and Development at BAX Global, Ryder System, Inc. and
Flagstar Restaurants, Inc. He received an MBA degree from Columbia
University, an MS in accounting from Florida International
University and a BS in industrial relations from the University of
North Carolina-Chapel Hill. Currently Mr. Campbell serves as a
Director and Audit Committee Chairman of Forward Air, Inc.
(Nasdaq:FWRD), a $1.3 billion market capitalization provider of
surface transportation and related logistics services to the North
American expedited air freight market.
Nidal Z. Zayed, President and CEO of Pernix Group, said, "We are
pleased that Don has agreed to expand his role with Pernix, as he
has been a very positive force for our company since joining the
board in late 2012. He brings a tremendous amount of industry
experience, vision and leadership to Pernix. We are very fortunate
to have Don now serving as our Chairman, and I look forward to
growing my close working relationship with him. The entire
management team will benefit significantly from his professional
acumen and experience as we continue to expand our construction and
power infrastructure business around the globe.
"My team and I are extremely happy to have Bob Campbell join our
Board," continued Mr. Zayed. "Bob's interest in being a member of
our Board and Chairman of our Audit Committee is a strong vote of
confidence in the integrity of our financial and corporate
governance, and an affirmation of Pernix Group's global growth
potential. He brings not only related industry experience, but also
the financial sophistication that we need to take our company to
the next level. Bob is uniquely qualified to guide us in merger and
acquisition matters. His intimate knowledge of public and private
capital markets, as well as his broad contact base, will be a
tremendous asset to us. We are privileged to be working with such
an accomplished executive, and we look forward to a long-term
relationship with Bob. The new Board leadership is expected be very
active in the company and provide ongoing guidance to management as
we grow Pernix Group to its full potential."
"Pernix Group has significant potential to expand its global
construction and power infrastructure businesses," commented Mr.
Gunther. "I am pleased that Pernix has entrusted me with helping to
develop and refine its strategic initiatives, and I continue to
believe that the company is ideally positioned for significant
growth. I look forward to serving as Chairman and continuing my
close working relationship with Nidal and his team. I'm also
thrilled to have Bob Campbell join our Board. I know that Bob
brings tremendous value and insight to our already accomplished
Board of Directors. The entire Board welcomes him."
"I am delighted to begin my affiliation with Pernix Group," said
Mr. Campbell. "The talent and vision of management and the diverse
experience of the other board members make for a powerful
combination. I am confident that I can help the Pernix team to
achieve its objectives and create value for all constituents. This
is an exciting company and I join it at an opportune time."
About Pernix Group, Inc.
Pernix Group, Inc. is a global company with its headquarters in
Lombard, Illinois. The company is engaged in two primary business
segments: construction services as a Design-Build General
Contractor in the Federal and Government market; and building,
managing and investing in Power Generation Projects as an
Independent Power Producer. Pernix has full-scale construction and
management capabilities, with operations in Africa, the Middle
East, and the South Pacific. Pernix Group, Inc. common stock is
traded on the over-the-counter quotation board (OTCQB) under the
symbol PRXG. Additional information is available at
www.pernixgroup.com.
Forward-Looking Statement
Certain of the statements made in this press release are
forward-looking statements within the meaning of the Securities
Litigation Reform Act of 1995. Such statements involve certain
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Potential
risks and other factors that could cause or contribute to actual
results differing materially from such forward-looking statements
are discussed in greater detail in the Company's filings with the
U.S. Securities and Exchange Commission.
CONTACT: Gregg Pollack
Chief Financial Officer & Vice President-Administration
Pernix Group, Inc.
Tel: (630) 620-4787
gpollack@pernixgroup.com
Carol Groeber
Corporate Controller and Principal Accounting Officer
Pernix Group, Inc.
Tel: (630) 620-4787
cgroeber@pernixgroup.com
Casey Stegman
Director of Investor Relations
Stonegate Securities
Tel: (214) 987-4121
casey@stonegateinc.com
Pernix (CE) (USOTC:PRXG)
Historical Stock Chart
From Jul 2024 to Aug 2024
Pernix (CE) (USOTC:PRXG)
Historical Stock Chart
From Aug 2023 to Aug 2024