DIRTT Announces Executive Departure
DIRTT Environmental Solutions Ltd. (“DIRTT” or the “Company”) (TSX: DRT), an interior construction company using technology for client-driven design and manufacturing, announced that founder and executive chair Mogens Smed has left the company, effective immediately.
In January 2018, Smed agreed to cease acting as CEO and to undertake a new role as executive chair as part of the Company’s decision to implement a transition plan for senior management. In that role, Smed’s responsibilities narrowed to focus on increased DIRTT partner support, sales, and business development, and to support the management transition plan (among others), all requiring adherence to structure and discipline within the organization.
As part of the transition, previously acting lead director of the board Steve Parry has been appointed as chair of the board. Of the decision to now part ways with Smed, Parry stated, “We acknowledge the enormous contribution Mogens has made since founding DIRTT, and this was a very difficult and carefully considered decision by the board. However, Mogens has not adequately performed the agreed assigned duties, requiring the board to align management resources to begin building a more collaborative, adaptable and responsive team that creates the ability to successfully scale the business.”
In a separate press release issued today, DIRTT appointed Kevin O’Meara as chief executive officer and director of the board, effective September 10, 2018.
“DIRTT has performed an extensive search process to identify a CEO for the past eight months, identifying the largest applicant pool possible and conducting thorough interviews of highly qualified candidates. Today, DIRTT announced the new CEO Kevin O’Meara, who was the clear choice to the board, senior management and Smed,” concluded Parry.
DIRTT is a building process powered by technology. The name stands for Doing It Right This Time. The company uses its proprietary ICE® Software to design, manufacture and install fully customized interior environments. The technology drives DIRTT’s advanced manufacturing and provides certainty on cost, schedule and the final result. Complete interior spaces are constructed faster, cleaner and more sustainably. DIRTT’s manufacturing facilities are located in Phoenix, Savannah, Kelowna and Calgary. DIRTT works with nearly 100 sales partners throughout North America, the United Kingdom, the Middle East and Asia. DIRTT trades on the Toronto Stock Exchange under the symbol “DRT.” For more information visit dirtt.net/investors.