HOUSTON, Aug. 6, 2020 /PRNewswire/ -- Flotek
Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) welcomes
Harsha V. Agadi to its Board of
Directors. He will also serve as the chair of the Compensation
Committee.
For more than 30 years, Agadi has held senior executive
positions at Fortune 50 companies and has been a serial president
and Chief Executive Officer (CEO) for numerous classic American
brands, including Crawford & Company, Friendly's Ice Cream
Corporation, Church's Chicken, Inc. and Little Caesar's
Enterprises.
Agadi is a seasoned board member, with extensive experience
leading compensation committees, having previously served as
compensation committee chair for two publicly traded companies:
Belmond Ltd., a worldwide hospitality and leisure company, and
Crawford & Company, the world's largest publicly listed
independent claims management company.
John W. Gibson, Jr., Chairman,
President, and Chief Executive Officer of Flotek stated: "We are
honored to welcome Harsha to Flotek's board. He is a passionate,
experienced global leader who has leveraged his skills in
identifying strengths in business and people – while championing
diversity as a primary platform for excellence – to build
successful global brands throughout his highly accomplished career.
He joins us as the Company launches our commercial sanitizer and
surface cleaning business, and will contribute deep knowledge,
insights and relationships in food service and leading quick
service restaurant brands – a significant commercial market
opportunity for our high-quality products. I look forward to
partnering with him and the board to continue to advance our
strategy of diversifying our business, while building on our
existing strengths to capture high-growth, high-margin
opportunities."
Agadi said, "I'm truly honored to serve on the Flotek board and
sit alongside an extremely able and seasoned Chairman and CEO,
John W. Gibson, Jr., who is an
innovative, thought leader in energy technology. As the Company
leverages its specialty chemistry expertise to address the market
need for high-quality sanitizers, I look forward to contributing
strategic insights and that can help the Company accelerate its
growth."
Agadi is currently the Chairman and CEO of GHS Holdings, LLC, an
investing and restaurant consulting business. From 2015-2020, he
was president and CEO of Crawford & Company. Prior to his role
at Crawford, he was Chairman of
the Board for Quizno's LLC and the Krystal Company. Prior to that,
Agadi was Chairman and CEO of Friendly's Ice Cream LLC, a
restaurant chain which provides ice cream desserts and sandwiches,
following his role as President and CEO of Church's Chicken, a
franchised quick service chicken restaurant with operations in 20
plus countries around the world. He continues to serve on the
boards of Diversified Foodservice Supply, Inc, a leading private
distributor of supplies and equipment to the foodservice industry,
and Crawford and Co. He is also
Chairman of the SKSVMA College of Engineering and Agadi Sunrise
Hospital Private Limited in India.
Born in Bangalore, India, Agadi
is the great grandson of the first Indian aviator. His past
recognitions include being named 2017 Most Admired CEO by Atlanta
Business Chronicle for his leadership at Crawford and in 2019, receiving the B'nai
B'rith International Distinguished Achievement Award, which
acknowledges the accomplishments of key community and business
leaders from around the world. He received a Master of Business
Administration from the Fuqua School of Business at Duke University and a Bachelor of Commerce from
University of Mumbai.
About Flotek
Flotek empowers the energy industry to maximize the value of
their hydrocarbon streams and improve return on invested capital
through data-driven platforms and chemistry technologies. Flotek
serves downstream, midstream and upstream customers, both domestic
and international. Flotek is a publicly traded company
headquartered in Houston, Texas,
and its common shares are traded on the New York Stock Exchange
under the ticker symbol "FTK." For additional information, please
visit Flotek's web site at www.flotekind.com.
Forward-Looking Statements
Certain statements set forth in this press release constitute
forward-looking statements (within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934) regarding Flotek Industries, Inc.'s business,
financial condition, results of operations and prospects. Words
such as will, continue, expects, anticipates, intends, plans,
believes, seeks, estimates and similar expressions or variations of
such words are intended to identify forward-looking statements, but
are not the exclusive means of identifying forward-looking
statements in this press release. Although forward-looking
statements in this press release reflect the good faith judgment of
management, such statements can only be based on facts and factors
currently known to management. Consequently, forward-looking
statements are inherently subject to risks and uncertainties, and
actual results and outcomes may differ materially from the results
and outcomes discussed in the forward-looking statements.
Further information about the risks and uncertainties that
may impact the Company are set forth in the Company's most recent
filing with the Securities and Exchange Commission on Form 10-K
(including, without limitation, in the "Risk Factors" section
thereof), and in the Company's other SEC filings and publicly
available documents. Readers are urged not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company undertakes no
obligation to revise or update any forward-looking statements in
order to reflect any event or circumstance that may arise after the
date of this press release.
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SOURCE Flotek Industries, Inc.