Hi-Crush Inc. Announces Chief Financial Officer Succession
06 December 2019 - 10:50PM
Hi-Crush Inc. (NYSE: HCR), or the "Company", today announced that
Ms. Laura C. Fulton, Chief Financial Officer, will resign as Chief
Financial Officer and principal financial and accounting officer of
the Company effective December 31, 2019 to pursue another career
opportunity. Mr. Phil McCormick, Vice President of Finance has been
appointed by the Board of Directors to the role of Chief Financial
Officer and principal financial and accounting officer effective
January 1, 2020. Ms. Fulton’s departure was not related to any
disputes or disagreements regarding financial disclosures,
accounting or legal matters.
"On behalf of the Board and our entire Company,
I want to sincerely thank Laura for her significant contributions
and dedicated service to Hi-Crush,” said Mr. Robert E. Rasmus,
Chairman and Chief Executive Officer of Hi-Crush. “When Laura
joined Hi-Crush early in 2012, we were a private company, operating
one northern white sand mine. Over the following eight years, Laura
played an essential role in the execution of our growth strategy,
managing the strong balance sheet and liquidity position we
maintain to this day and helping to position Hi-Crush as a leading
provider of fully integrated proppant and logistics services to the
hydraulic fracturing industry. We wish her well as she embarks on
the next chapter of her career.”
“As we execute on our succession plan, we are
excited to appoint Phil to an expanded role, where he will continue
to oversee and execute on our financial strategy,” continued Mr.
Rasmus. “Phil has been a great asset since joining the Hi-Crush
team, leveraging his nearly three decades of experience. I look
forward to partnering with Phil and the rest of the leadership team
as we embrace our strategic opportunities going forward.”
“I appreciate the confidence evidenced by the
Board and Hi-Crush, and am honored to serve as Chief Financial
Officer,” said Mr. McCormick. “I am excited to join the leadership
team, and together we will fulfill our goals in providing best in
class service to the industry and in generating value for our
stakeholders.”
Mr. McCormick has nearly 30 years of experience
in finance, accounting, treasury, risk management and capital
markets. He joined Hi-Crush in August 2018. Prior to joining
Hi-Crush, Mr. McCormick served in various senior level positions at
KBR, Inc. from 2009 to 2018, including Vice President of Finance
and Treasurer. Prior to that, he -held various senior level roles
at LyondellBasell from 1998 to 2009, including Director, Internal
Controls. Mr. McCormick began his career as an Audit Manager at
Coopers & Lybrand in 1990. He earned a Bachelor of Business
Administration in Accounting from The University of Texas at Austin
and is a Certified Public Accountant in the State of Texas.
About Hi-Crush Inc.Hi-Crush
Inc. is a fully-integrated provider of proppant and logistics
services for hydraulic fracturing operations, offering frac sand
production, advanced wellsite storage systems, flexible last mile
services, and innovative software for real-time visibility and
management across the entire supply chain. Our strategic suite of
solutions provides operators and service companies in all major
U.S. oil and gas basins with the ability to build safety,
reliability and efficiency into every completion.
Investor contact:Caldwell Bailey, Manager,
Investor RelationsMarc Silverberg, ICRir@hicrushinc.com(713)
980-6270
Source: Hi-Crush Inc.
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