Sequoia Energy Inc.

Sequoia Energy Inc.

March 21, 2011 08:01 ET

Sequoia Energy Appoints New CFO

WINNIPEG, MANITOBA--(Marketwire - March 21, 2011) -

Editors Note: There is a photo associated with this press release.

Veteran finance executive Wes Thiessen has joined Sequoia Energy Inc. as its new Chief Financial Officer, helping to lead a team of 30 staff and contractors who are managing renewable energy projects across Canada and in selected areas in the United States.

Thiessen's work with Sequoia will focus on corporate strategy and associated planning, capital, investment and project evaluation, finance, treasury and cash flow management for the 10-year-old company. He will help advance Sequoia's North American initiatives from small hydro run-of-river projects to large-scale wind and solar energy projects.

"What attracted me to Sequoia were the good people in and around this company. Their style is very collaborative from the way they work with their landowners to how they work with their business partners. In this day and age, investors know that a strong staff team, a good corporate reputation, and world-wide relationships lead to a strong company and strong bottom line potential," Thiessen says.

President and CEO Ron Diduch, who was managing the CFO tasks in addition to his strategic duties, says Thiessen's arrival marks yet another important stage in the growth of Sequoia. "Our company is primed to take its next steps in maturing our project pipeline across a wide region in North America and Wes Thiessen's arrival at Sequoia is very timely from the perspective of financing these growth steps and strategically managing key elements in our finances. He's a fabulous addition to our management team."

"A growing company the size of Sequoia requires a CFO with Wes's experience and we're proud to add his skill and integrity to our team. Strategically, he'll help us finance our projects, work with our international partners, and attract even more worldwide investors," Diduch said from Sequoia's head office in Winnipeg, Manitoba.

Thiessen, who grew up on a farm in rural Manitoba, brings over 20 years of finance, tax and accounting experience to the job. He recently served as Chief Financial Officer of Craig Wireless Systems Ltd. ("Craig") and also gained international experience with Ridley Inc., a multinational manufacturing company. During his tenure with both Craig and Ridley Inc., Wes established and led the treasury, reporting and tax teams and is experienced in cross-border and international tax issues.

About Sequoia: In the last three years Sequoia Energy Inc. has attracted international investors, expanded its reach across the West and Mid-Western United States and Central and Western Canada, the home of North America's best renewable energy resources. In the course of that, it has doubled its workforce and has people working in Canada, and the U.S., and maintains a corporate office in Europe. 

Sequoia Energy initiated the first Manitoba wind farm in St. Leon, Manitoba. As a pioneer of the "Community First" approach, Sequoia has demonstrated that renewable energy is a safe, reliable, economically sound, environmentally and socially responsible source of energy for landowners, utilities and governments across North America.

Sequoia prides itself on acting responsibly and collaboratively with key stakeholders. Sequoia's goal is to facilitate a smooth introduction of renewable energy into established energy networks while bringing new income and economic opportunity to rural areas.

Visit: www.sequoia-energy.com.

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