- Wastewater treatment company Fluence (FLC) appoints Thomas Pokorsky as its new CEO and Managing Director
- Mr Pokorsky has 35 years of experience in the wastewater treatment industry including 15 years of CEO experience
- However, he’s most notably known for building up companies profitability before selling them
- Employment terms also include over 31.2 million sign on stock options to be granted, which represent five per cent of outstanding issued shares
- FLC shares are sitting flat today, trading at 20.5c at 1:23pm AEDT
Wastewater treatment company Fluence (FLC) has appointed Thomas Pokorsky as its new CEO and Managing Director, and has returned Richard Irving as Chair.
The company says Mr Pokorsky has significant experience in the wastewater treatment industry, most notably in building up profitability of companies before and selling them.
Additionally, he has 35 years of executive experience, plus 15 years of CEO experience predominantly in the USA, however, his repertoire spans across China, Europe and Israel.
Mr Pokorsky’s history of growing public and private businesses, show returns up to 10 times higher, and internal rates of returns (IRR) up to 50 per cent higher.
In 1999, Pokorsky became the CEO of Water Pollution Control Corporation (Sanitaire), where he doubled revenue and profits before negotiating its sale.
The company was sold to ITT industries, which then used Pokorsky to help grow its Advanced Water Treatment group from $60 million to $350 million in four years.
Pokorsky then founded another wastewater treatment company, Nexom, and grew annual revenue growth by 25 per cent, and a 50 per cent earnings before interest, taxes, depreciation, and amortisation growth before the company was sold.
As CEO, Mr Pokorsky will receive an annual salary of US$ 465,000 (A$639,000), plus a bonus up to US$75,000 (A$103,000).
Mr Pokorsky’s employment terms also include 31,250,000 sign on stock options to be granted, which represent 5 per cent of outstanding issued shares.
12,500,000 of these options will be time vested over four years, priced at the 10 day VWAP from today plus 10 per cent.
Speaking of the new appointment, Mr Pokorsky says he is “honoured.”
“With over 300 plants sold to date, Fluence’s MABR solutions, together with NIROBOX desalination products, will allow the company to substantially build its North American business while continuing with its successful growth in China, South East Asia and beyond,” he said.
“I also intend to ensure that we continue to execute the Ivory Coast project successfully.”
FLC shares are sitting flat today, at 20.5c 1:23pm AEDT.