ROGERS, AR--(Marketwired - February 02, 2017) - Ecoark Holdings, Inc. (OTCQX: EARK), a provider of a growing suite of proprietary technologies and services that drive sustainability and facilitate sustainable growth for a wide range of clients, today named two new members to its Board of Directors -- Peter Mehring and Troy Richards. Both were appointed during a meeting of the current Board in January.
The new members will join the current Board, which includes Randy May, Gary Metzger, John P. Cahill, Terrence D. Matthews, and Charles Rateliff to create a seven-person Board and maintain an independent majority, a key to meeting the requirements for several potential future business initiatives, including application for a national securities exchange. The Board created an independent majority with the additions of Cahill, Matthews, and Rateliff last May.
"We welcome Peter and Troy to the Board of Directors, as they bring a wealth of leadership and industry experience that will help to guide our Company forward," said Randy May, CEO of Ecoark Holdings, Inc. "Last May I spoke of how strong our Board was and of the world class experience our members brought to our boardroom. Adding Peter and Troy to the mix further emphasizes that strength, and the Company will undoubtedly benefit from their expertise moving forward."
Peter Mehring currently serves as President of Zest Labs, Inc., a subsidiary of the Company, and has served in that role since July 2009. As President of Zest Labs, Inc., he leads the Company's efforts in pioneering on-demand data visibility and condition monitoring solutions for the fresh produce, protein and pharmaceutical markets. He was formerly Vice President of Macintosh hardware group at Apple Computer, Senior Vice President of Engineering at Echelon, and founder, General Manager and Vice President of R&D at UMAX. Mehring held Engineering Management positions at Radius, Power Computing Corporation, Sun Microsystems, and Wang Laboratories. Mehring brings extensive experience, and can advise the Board of Directors in matters relating to engineering, operations and general management at emerging companies and large enterprises.
Troy Richards became an employee of the Company in June 2016 when he was appointed as the Company's Chief Administrative Officer. Richards previously served as an advisor to the Company since 2013. Since 1992, Richards has been a franchisee of the Wendy's Company and, at the height of his business with Wendy's Company, he had over 400 employees throughout the state of Arizona and owned and operated over 30 restaurants. Richards actively serves on the foundation board of the Translational Genomics Research Institute ("TGen") and has been involved in TGen's growth in many areas, including advanced adrenal cancer research and institution-wide marketing. Richards has extensive management and systems experience which he will use to contribute to the Company's Board of Directors.
The Company's Board of Directors also chose to change the fiscal year of the Company at its annual meeting last week. The Company will change its fiscal year, previously ending December 31, to end on March 31, as permitted by the Company's bylaws. This change was made to allow the Company to move forward with its active listing application for The Nasdaq Capital Market®, submitted in May of 2016, as it continues to seek broader visibility and access to a greater number of investors.
Additional Personnel Changes
Dr. Yash Puri resigned as a member of the Board and as Executive Vice President, Chief Financial Officer of the Company on January 13, 2017. Puri's role within the Company will be filled by two current employees: Jay Oliphant, Principal Financial Officer and Principal Accounting Officer, and Jay Puchir, Treasurer and Secretary.
About Ecoark Holdings, Inc.
Based in Rogers, AR and founded in 2011, Ecoark Holdings, Inc. is a growth-oriented company based in the retail and logistics hub of Northwest Arkansas. Ecoark's portfolio of technology solutions increase operational visibility and improve organizational transparency for a wide range of corporate clients.
Ecoark's technologies fight waste in Operations, Logistics, and Supply Chains across the evolving global economy. Ecoark's portfolio of companies and technologies work to integrate people, processes, and data in order to overcome ingrained operational hurdles and create new revenue streams.
Ecoark's vision is to expose the cycles of waste that reduce efficiency and cost effectiveness across the business landscape. Ecoark's strategically acquired subsidiaries have anticipated and responded to key economic factors impacting every business today.
Ecoark addresses these vital economic factors through four active subsidiaries, Zest Labs, Eco3d, Pioneer Products, and Magnolia Solar.
For more information, please visit www.ecoark.com.
Forward Looking Statement:
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.