Cielo Announces New COO and Changes to Senior Management Team

Ticker: CMC.V / CWSFF
Listings: TSX Venture Exchange / US OTC / Frankfurt
Market Cap: 935.51 MCAD at time of publication
Share price: 1.45 CAD at time of publication
Industry: Converting waste to renewable fuel

We are delighted to see Cielo announce new COO and Changes to Senior Management Team. Gregg Gegunde will be the new Chief Operating Officer (COO).

The company commented “Mr. Gegunde has over 26 years of experience in the energy sector with diverse executive and technical leadership skills. Mr. Gegunde has extensive experience in production operations, asset development, asset management, process, joint ventures, environmental and health & safety. He has recently retired as Senior Vice President of Exploitation, Production and Delivery at Penn West Petroleum. Mr. Gegunde holds a Bachelor of Science in Chemical Engineering from the University of Calgary and a diploma in Mechanical Engineering from the Southern Alberta Institute of Technology. Mr. Gegunde is a professional engineer and a member of the Association of Professional Engineers & Geoscientists of Alberta and a member of the Association of Professional Engineers & Geoscientists of Saskatchewan. Mr. Gegunde’s appointment is subject to the approval of the TSX Venture Exchange.”

In congruence, Lionel Robins has stepped down from his role as COO and will take on his new role of Senior Vice President of Global Development/Indigenous Relations, including oversight of government relations. Raphael Bohlmann will also be moving to a new role of Senior Vice President of Corporate Development and Investor Relations. Mr. Bohlmann will continue to attend to the Company’s marketing and will also oversee capital markets and communications. Shawn Frenette will be stepping down from his role as Vice President of Global Development.

Don Allan, President and CEO of Cielo, stated, “As Cielo continues to grow we will continue to add qualified individuals to our senior management team. I am very pleased to welcome Mr. Gegunde to the Cielo team as COO and also for the additional duties Mr. Bohlmann and Mr. Robins will be taking on in their new roles.”

ESG Comments:
Great to see Cielo move forward with their plan, make some management position rotations and announce the new COO so the company becomes well positioned for their growth in the future.

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