8-K: Energy Recovery Appoints Brandon Young as Interim Chief Accounting Officer
Personnel Change Announcement
Energy Recovery, Inc. has appointed Brandon Young as its interim Chief Accounting Officer, effective July 10, 2024.
Summary
- Energy Recovery, Inc. has appointed Brandon Young as the interim Chief Accounting Officer, effective July 10, 2024.
- Mr. Young, age 51, has been with the company since 2012 and previously served as VP, Corporate Controller since May 2022.
- He has a background in public accounting and worked at McKesson Corporation and Ernst & Young LLP.
- In connection with his appointment, Mr. Young received restricted stock units valued at $20,000.
- There are no family relationships or reportable related party transactions between Mr. Young and any other executive officers or directors of the company.
Sentiment
Score: 7
Explanation: The announcement is a routine personnel change and does not indicate any significant positive or negative sentiment. The appointment of an internal candidate suggests stability.
Positives
- The appointment of Brandon Young provides continuity as he has been with the company since 2012.
- Mr. Young's experience includes public accounting and a role at McKesson Corporation, a large pharmaceutical distributor.
- The company has quickly filled the Chief Accounting Officer role with an internal candidate.
Industry Context
This announcement is a routine personnel change within a publicly traded company. It is common for companies to appoint interim officers while they conduct a search for a permanent replacement.
Comparison to Industry Standards
- The appointment of an interim Chief Accounting Officer is a common practice in publicly traded companies when there is a vacancy.
- Granting restricted stock units as part of compensation is a standard practice for executive appointments.
- The background of the appointee, with experience in public accounting and large corporations, is typical for this role.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Interim Chief Accounting Officer | Not specified | Brandon Young | July 10, 2024 | Appointment of interim officer |
Stakeholder Impact
- The appointment of an interim Chief Accounting Officer is unlikely to have a significant impact on stakeholders.
- The appointment provides continuity in financial reporting and controls.
Key Dates
| Date | Description |
|---|---|
| July 10, 2024 | Brandon Young appointed as interim Chief Accounting Officer. |
| July 15, 2024 | Date of report signature. |
Keywords
Chief Accounting Officer, Energy Recovery, Brandon Young, Corporate Controller, Accounting, Executive Appointment
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