Lumenpulse Announces Succession Plan for Chief Financial Officer
Peter Timotheatos appointed successor to Robert Comeau, Executive Vice President and Chief Financial Officer, who is to retire at the end of 2015
Lumenpulse Inc. (TSX: LMP), a leading manufacturer of high performance, specification-grade LED lighting solutions, announced today that Peter Timotheatos has been promoted from Senior Vice President, Financial Planning, Analysis & Results to Executive Vice President and Chief Financial Officer effective as of January 1st 2016 after Mr. Comeau's planned departure on December 31st 2015. After his retirement from the Company, Robert Comeau will remain as advisor to the company focusing on various key initiatives.
Mr. Timotheatos brings over 20 years of experience to the role with a strong background in corporate finance. He joined the Company in September 2014 and was responsible for managing the Financial Planning & Analysis group and the Results & Control organization. Mr. Timotheatos holds CPA, CA, CBV and CFA designations.
"I am pleased to have Peter as my successor. Having worked together previously and this past year at Lumenpulse, I am confident that he will continue to build on what has been accomplished to-date and that his vast experience will help lead the Company during its next growth phase," indicated Robert Comeau, Executive Vice President, Chief Financial Officer.
"We wish to sincerely thank Robert for his contribution during the IPO, for his work in establishing a strong accounting and finance group and the leadership he demonstrated every day at Lumenpulse. Robert has been a true partner to me and the rest of the Lumenpulse team. His hard work and dedication during his tenure were critical to our evolution as a public company. We expect a smooth transition considering Peter's prior role and his far reaching understanding of our organization and industry," said François-Xavier Souvay, the Company's President and CEO.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", or "continue", the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in the Company's annual information form filed with the Canadian securities regulatory authorities, which is available on the SEDAR website at www.sedar.com. There can be no assurance that such information will prove to be accurate, and readers are cautioned not to place undue reliance on this forward-looking information. Forward-Looking statements are provided for the purposes of assisting the reader in understanding the Company's financial performance, financial position and cash flows as at and for the periods ended on certain dates and to help investors measure progress towards management's objectives and the reader is cautioned that such statements may not be appropriate for other purposes.
About Lumenpulse Inc.
Founded in 2006, Lumenpulse designs, develops, manufactures and sells a wide range of high performance and sustainable specification-grade LED lighting solutions for commercial, institutional and urban environments. Lumenpulse is a leading pure-play specification-grade LED lighting solutions provider and has earned many awards and recognitions, including several Product Innovation Awards (PIA), three Next Generation Luminaires Design Awards, a Red Dot Product Design Award and a Lightfair Innovation Award. Lumenpulse has more than 437 employees worldwide, with corporate headquarters in Montreal, Canada, and offices in Québec City, Boston, Paris, London and Manchester. Lumenpulse is listed on the Toronto Stock Exchange under the symbol LMP.
Additional information about Lumenpulse, including its 2015 Annual Information Form, is available at www.lumenpulse.com and on the SEDAR website at www.sedar.com.
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