DMC Global Announces Planned Retirement of CFO Michael Kuta
BROOMFIELD, Colo., Aug. 11, 2022 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today announced that Michael Kuta plans to retire and step down as Chief Financial Officer. Kuta will remain with the Company until March 2023 to ensure a seamless transition of his duties. DMC has commenced a search for Kuta’s successor, and has engaged a leading executive recruiting firm.
“Mike is a valued partner who has played a pivotal role in the transformation of DMC during his more than eight years as CFO,” said Kevin Longe, president and CEO. “He was instrumental in the restructuring and consolidation of our global businesses, the modernization of our manufacturing infrastructure, and our investments in groundbreaking technologies and products that have fueled our growth. Mike developed the financing structure and strategy for last year’s acquisition of a controlling interest in Arcadia. He also has built a world-class finance and accounting team to support DMC and its businesses. I am extremely grateful he has offered to stay on for an extended transition period.”
“On behalf of the entire DMC family, I want to thank Mike for his contributions and his friendship,” Longe added. “We wish him and his wife, Karin, the very best as they embark on their next chapter.”
Kuta said, “I am proud of all we accomplished during my time at DMC and am thankful for the wonderful working relationship and friendship I’ve shared with Kevin and the DMC team. I look forward to assisting with the transition and watching DMC’s continued success.”
About DMC Global Inc.
DMC Global operates a portfolio of differentiated businesses that lead niche segments of the energy, industrial infrastructure and building products industries. The Company’s strategy is to identify well-run businesses with strong management teams, and support them with long-term capital and strategic, financial, legal, technology and operating resources. DMC helps portfolio companies grow their core businesses, launch new initiatives, upgrade technologies and systems to support their long-term growth strategies, and make acquisitions that improve their competitive positions and expand their markets. The Company’s current portfolio consists of Arcadia Inc., a leading supplier of architectural building products, DynaEnergetics, which serves the global energy industry, and NobelClad, which addresses the global industrial infrastructure and transportation sectors. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit the Company’s website at www.dmcglobal.com.
CONTACT:
Geoff High
Vice President of Investor Relations
303-604-3924
Released August 11, 2022