Acceleware's Leadership Transition: CFO Departure and Future Plans

Acceleware Bids Farewell to Its Chief Financial Officer

Acceleware Ltd., a key player in the drive towards sustainable industrial process solutions, has recently announced that its Chief Financial Officer, Tracy Grierson, will be leaving the organization. This change comes after nearly six years of significant contributions to the company and reflects a new chapter in her professional journey.

Ms. Grierson’s Impact and Transition Plans

Since her appointment as fractional CFO in 2019, Grierson has been pivotal in steering Acceleware through multiple financial landscapes and strategic initiatives. Her decision to depart and seek new professional opportunities was not made lightly, as she expressed pride in her team's accomplishments. In an effort to ensure a smooth transition, Grierson has committed to working with the leadership team until her departure is finalized in mid-December.

Statements from Leadership

Acceleware’s President and CEO, Geoff Clark, shared heartfelt sentiments regarding Grierson's performance. He noted, "Tracy has been a rock-solid performer as CFO and a great asset to the Company. She will be missed by her fellow employees and executive team members.” Additionally, Board Chair Bohdan Romaniuk expressed gratitude for her contributions, showing a unified appreciation for Grierson’s efforts during her tenure.

Plans for the Future: Interim Leadership

In the event a replacement for Grierson hasn’t been appointed by the time of her exit, Mike Tourigny, the Chief Operating Officer, is set to step into the interim CFO role. Tourigny, with extensive experience in the ICT sector and formal education in finance, brings a wealth of knowledge and stability to the company during this transition phase.

Acceleware's Vision and Environmental Commitment

Acceleware is well-known for its commitment to sustainability, leading the charge with its innovative electromagnetic (EM) heating technology that focuses on decarbonizing industrial processes. The company is currently piloting its RF XL technology, which has the potential to redefine heavy oil recovery methods and significantly reduce greenhouse gas emissions associated with traditional practices.

Strategic Collaborations and Indigenous Partnerships

The organization is not only focused on its technological advancements but is also dedicated to building relationships with Indigenous communities. With the establishment of Acceleware | Kisâstwêw in collaboration with the Saa Dene Group, the company aims to align its operations with values that respect the land and promote social equity. This partnership signifies a commitment to improving both economic and environmental outcomes for industries, highlighting the importance of collaborative efforts in today’s world.

About Acceleware

As a public entity listed on the TSX Venture Exchange under the ticker symbol “AXE”, Acceleware Ltd. remains at the forefront of the EM heating sector, seeking to revolutionize how industries approach decarbonization and electrification. Their trailblazing projects in mining, steel, agriculture, and clean fuels represent a commitment to a more sustainable future.

Frequently Asked Questions

What prompted Tracy Grierson's departure?

Tracy Grierson decided to leave Acceleware to pursue other career opportunities after nearly six years with the company.

Who will take over Grierson's responsibilities?

If a new CFO is not appointed by her departure, Mike Tourigny will temporarily fulfill the role until a new financial leader is identified.

What is Acceleware known for?

Acceleware is recognized for its innovative electromagnetic heating technologies aimed at decarbonizing industrial processes and reducing greenhouse gas emissions.

How does Acceleware support Indigenous communities?

Through its partnership with the Saa Dene Group, Acceleware works to improve environmental and economic performance while honoring Indigenous values regarding land and resources.

What stock exchange is Acceleware listed on?

Acceleware is publicly traded on the TSX Venture Exchange under the symbol “AXE”.

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