DIRTT Announces Senior Management Transition
DIRTT Environmental Solutions Ltd. (“DIRTT” or the “Company”) (TSX:DRT), a leading technology-enabled designer, manufacturer and installer of fully customized, prefabricated interiors, today announces the upcoming departure of Chief Financial Officer Derek Payne. Payne’s departure is based on personal reasons and exact timing is yet to be determined. He will remain with DIRTT in an advisory capacity until September 30, 2017. DIRTT President Scott Jenkins will serve as interim CFO until Payne’s successor is named.
Payne joined DIRTT in 2012 as CFO and was a critical member of the team that closed a significant mezzanine financing as a private company. He then played a central role in ensuring the success of DIRTT’s initial public offering (“IPO”) on the Toronto Stock Exchange in November 2013. Subsequent to the IPO, Payne led DIRTT’s Finance team through the initial years as a public company, including two successful bought-deal financings that laid the foundation of DIRTT’s current strong financial position. Payne also worked with DIRTT’s commercial lending partners to implement updated and increased credit facilities.
“Derek worked tirelessly to ensure the success of DIRTT during and after IPO, and he’s been an invaluable member of the management team during these past four years of significant growth,” says Jenkins on Payne’s impending departure. “He will be missed but we know he will contribute to our future success in many ways, including as a lifelong DIRTT supporter as we disrupt the construction industry with technology. We wish Derek and his family all the best in their next chapter.”
Says Payne, “I’m proud of where DIRTT is now and of our accomplishments as a public company. I have complete confidence in DIRTT’s continued success; the company is in excellent hands and I look forward to working with the team during this transition.”
DIRTT Environmental Solutions (Doing it Right This Time) uses its proprietary 3D software to design, manufacture and install fully customized prefabricated interiors. The Company’s customers in the corporate, government, education and healthcare sectors benefit from DIRTT’s precise design and costing; rapid lead times with the highest levels of customization and flexibility; and faster, cleaner construction. DIRTT’s manufacturing facilities are in Phoenix, Savannah, Kelowna and Calgary. DIRTT’s team supports more than 100 sales distribution partners throughout North America, the Middle East and Asia. DIRTT trades on the Toronto Stock Exchange under the symbol “DRT.” For more information visit www.DIRTT.net or contact us at ir@DIRTT.net.