STERLING, VA--(Marketwired - Mar 27, 2014) - Sutron Corporation (NASDAQ: STRN), a global leader in hydrological, meteorological, oceanic, air quality and emergency management monitoring, control, warning and forecasting systems, is pleased to announce that Glen E. Goold has been appointed as the Company's new Chief Financial Officer.
Mr. Goold joined Sutron in November 2012 as its Assistant CFO and Director of Finance. In his tenure with the Company, Mr. Goold has played a key role in several initiatives for the Company including assisting in consummating the Company's acquisition of its Sabio Division, working to help integrate the Company's new MeteoStar and Sabio Divisions into the Company's consolidated policies and procedures, assuming leadership over the Company's accounting and reporting functions, serving as the Company's Interim Chief Financial Officer since October 11, 2013 and assuming a role on the Company's Management Team that is forming strategies for the Company's future growth.
Prior to Sutron, Mr. Goold worked for the global private equity firm The Carlyle Group ("Carlyle") from 2005 to 2012. At Carlyle, Mr. Goold was an Associate Vice President in its Fund Management department. Mr. Goold managed Carlyle's funds that invested over $1.5 billion in middle market companies throughout Asia. He was responsible for the funds' accounting and investor reporting functions, coordinating efforts with local investment teams to consummate and manage portfolio investments, and assist in the fundraising initiatives of the funds he managed. Prior to Carlyle, Mr. Goold worked for global accounting firm Ernst & Young ("E&Y") from 1997 to 2005. At E& Y, Mr. Goold worked in its tax consulting group providing tax analysis services to clients primarily structured as partnership entities. Mr. Goold's clients were largely active in the real estate, oil and gas, telecommunications and entertainment industries. From 1999 to 2004, Mr. Goold worked in E&Y's National Tax office where he was assigned to some of the firm's larger customers and also had the responsibility to train E&Y personnel on the nuances and complexities of the U.S. partnership tax law. Mr. Goold graduated from Brigham Young University in 1997 with a Master's of Accountancy degree.
Dr. Raul McQuivey, President and Chief Executive Officer of Sutron, said, "Glen is a tremendous addition to the Sutron Executive Management Team. His tenure with Sutron to date has reflected his leadership abilities and we are fortunate to have him as our new Chief Financial Officer. We believe Sutron is poised for significant growth in the near future and we believe that Glen is a key player in the Company's growth initiatives."
Mr. Goold said, "This is a terrific opportunity to join Sutron's Executive Management Team. Sutron has an extremely exciting future with a growing domestic and international footprint. I am excited to work with a great group of colleagues as we continue to expand and make a difference to our customers and markets in which we are engaged."
About Sutron Corporation
Since 1975 Sutron has provided solutions to collect, measure, transmit and display critical data for Air, Water, Weather, Oceanic and Geotechnical applications. Sutron's 70,000 stations and data collection networks successfully operate on every continent, in every climate and on every ocean worldwide, providing critical real-time environmental data. Sutron products and networks offer complete system integrity from engineering and design to manufacturing, installation, software and support services. Sutron's real-time networks use Iridium and geostationary satellites, phone, Ethernet, radio and cellular telemetry for primary and redundant communications. Learn more at www.sutron.com.
Safe Harbor Statement
The statements in this press release that relate to future plans, events or performance are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements include without limitation any statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "should" and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements, including the risks of integration of acquired assets and operations and customer retention Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings with the SEC, including the disclosure under the heading "Business" and "Management's Discussion and Analysis" in the Company's Annual Report on Form 10-K filed on March 28, 2012. We are under no obligation to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.