SulphCo, Inc. (SulphCo), a technology company, has restructured its board members. The company's board has chosen Fred S. Zeidman to the position of chairman of the board. Robert van Maasdijk, the current chairman, will remain on the board and will keep serving in his role on the audit committee. Besides, Robert J. Hassler has been appointed as the non-executive director. Orri Hauksson has also been nominated to the board as a non-executive director and will serve on the audit committee.
Zeidman served as a director since August 2008 and has held several leadership roles with the number of energy related companies. He earlier served as chairman of Houston-based Seitel, Inc. He also held the position of a chairman of Unibar Corporation, until its sale in 1991 to Anchor Drilling Fluids. Zeidman is on the Board of Prosperity Bancshares Inc., serves as senior director for governmental affairs at Ogilvy Government Relations in Washington District of colombial, and is vice chairman of the University of Texas Health Sciences Center.
Hassler has wide range of experience in the oil and refining industries, having held different roles during a 33-year career at ConocoPhillips. Earlier to his retirement in 2008, Hassler served in the position of president, European refining and marketing, and had responsibility for four refineries with a combined capacity of 635,000 barrels of oil per day and more than 1,000 outlets and wholesale operations across 13 countries. He received Bachelor of Science in Chemical Engineering from the University of Nebraska and a Masters in Management from M.I.T.
Hauksson is deputy director of Novator Finland Oy (Novator). He holds several board positions in Novator’s investment portfolio companies. He received an undergraduate degree in Mechanical Engineering from the University of Iceland and an MBA from Harvard Business School.
Regarding the restructuring, Michael T. Heffner, Hannes Farnleitner and Edward E. Urquhart have resigned as directors of the company effective immediately. Farnleitner will maintain a close relationship with the company in his new role as special advisor to SulphCo with a focus on commercial opportunities in Europe.
As a result, SulphCo’s board will now comprise of seven directors, of which six are independent.
van Maasdijk said, I am delighted with the significant progress that SulphCo has made over the past two years towards commercialization of its patented technology. We have reached a significant milestone, and it is now entirely appropriate to realign the Board to best equip the Company for the next stage in its development.
van Maasdijk continued saying, I welcome Hassler and Hauksson to the Board and am confident that their extensive knowledge and expertise will be of enormous value to SulphCo. I would also like to thank our departing Board members for their significant contributions and know that SulphCo will be able to continue to call on their invaluable advice and counsel when required.