SHARC Energy Announces Executive Leadership Transition
SHARC International Systems Inc. has announced a series of changes in its executive leadership team, as approved by the Board of Directors. The changes are part of the Company’s ongoing strategic evolution aimed at enhancing its growth.
Effective immediately, Lynn Mueller will step back from his daily responsibilities, with a consulting agreement focused on business development and strategic growth initiatives to be finalized, pending Board ratification. The Board believes that Mr. Mueller's industry expertise and customer relationships will continue to add value as the Company executes its growth plans. Additionally, the Company has ended its contract with Chief Financial Officer Hanspaul Pannu.
Fred Andriano, Chairman of the Board, has been appointed Interim Chief Financial Officer and Treasurer to ensure continuity during the transition. Mr. Andriano brings extensive experience in executive leadership and public company governance and will assist the finance team while a search for a permanent CFO is underway.
The Board has appointed Michael Albertson as President, responsible for leading daily operations, product innovation, and revenue growth within the wastewater infrastructure and clean energy sectors. Shane Dungey has been appointed Interim Chief Executive Officer and Executive Vice Chair, continuing his role as a Director and Chair of the Compensation Committee. Dungey will collaborate with the Board and management to strengthen governance and advance the Company’s strategic priorities.
Fred Andriano expressed gratitude to Lynn Mueller for his dedication to SHARC Energy and emphasized the importance of the new leadership team in executing the Company’s growth strategy. Shane Dungey commented on the Company’s innovative technology and its opportunities in building decarbonization, while Michael Albertson highlighted the strength of SHARC's commercial pipeline and technology position.
The Board has begun evaluating the Company’s long-term executive leadership structure, with Dungey serving as Interim Chief Executive Officer until a permanent appointment is made.