8-K: Arq Appoints Jay Voncannon as Chief Financial Officer to Strengthen Executive Team

Arq, Inc. appoints Jay Voncannon, a 35-year finance veteran, as its new Chief Financial Officer, effective April 2, 2025, to oversee the company's continued transformation and next phase of growth.

Summary

• Arq, Inc. has appointed Jay Voncannon as its new Chief Financial Officer, effective April 2, 2025.
• Mr. Voncannon brings over 35 years of finance experience to the role.
• He will receive an annual base salary of $250,000 and is eligible for a target bonus of 100% of his base salary under the company's Short-Term Incentive Plan.
• Mr. Voncannon will also receive 50,000 shares of restricted stock, vesting in one installment on the second anniversary of the grant date.
• Stacia Hansen will transition from principal financial officer to Chief Accounting Officer.
• Mr. Voncannon previously served as CFO of CoorsTek, Inc. and held senior finance positions at Koch Industries.
• He will lead Arq's financial strategy and operations, including financial planning and analysis, accounting, tax, treasury, and internal audit.

Sentiment

Score: 8

Explanation: The document conveys a positive sentiment due to the appointment of an experienced CFO, which is expected to drive growth and improve financial operations. The management's comments are optimistic, and the company's focus on transformation and scaling the business is encouraging.

Positives

• Arq is strengthening its executive team with the appointment of a seasoned finance professional.
• Jay Voncannon brings over 35 years of experience in finance, including leadership roles at CoorsTek and Koch Industries.
• His experience includes guiding companies through transformational growth and improving profitability.
• The appointment is expected to support Arq's continued business transformation and position the company for accelerated growth in the activated carbon market.
• The company is implementing a mentorship and leadership development strategy as Stacia Hansen transitions to Chief Accounting Officer.

Future Outlook

Arq is positioning itself for accelerated growth in the activated carbon market with this new appointment. The company expects Voncannon's experience to be instrumental in building a world-class finance organization.

Management Comments

• Bob Rasmus, CEO of Arq, stated that Jay Voncannon is a proven financial leader with sharp strategic acumen and an extensive track record of delivering outstanding results.
• Jay Voncannon stated he is honored to join Arq during such an exciting and transformative stage in its growth.

Industry Context

The appointment of a seasoned CFO suggests Arq is focused on scaling its operations and capitalizing on opportunities in the activated carbon market. This aligns with the growing demand for environmentally efficient carbon products and purification technologies.

Comparison to Industry Standards

• CoorsTek, where Voncannon previously served as CFO, is a multibillion-dollar global manufacturer, indicating Voncannon has experience with large-scale financial operations.
• Koch Equity Development, where Voncannon was CFO and Managing Director, led principal investment initiatives in excess of $5 billion, demonstrating his expertise in mergers and acquisitions.
• Voncannon's experience in improving EBITDA margins and steering market-share growth at CoorsTek suggests he can bring similar improvements to Arq.

Management Changes

Stakeholder Impact

• Shareholders may view the appointment positively, expecting improved financial performance and growth.
• Employees may benefit from the leadership and expertise of the new CFO.
• The company's ability to deliver innovative solutions to remove harmful chemicals and pollutants from water, land and air may be enhanced.

Next Steps

• Jay Voncannon will assume his responsibilities as CFO, leading the company's financial strategy and operations.
• Stacia Hansen will transition to her role as Chief Accounting Officer.
• The company will focus on executing its growth strategy in the activated carbon market.

Key Dates

Keywords

Chief Financial Officer, CFO, Jay Voncannon, Arq, Finance, Appointment, Executive Team, Activated Carbon, CoorsTek, Koch Industries