Tornado Infrastructure Equipment Elevates Derek Li to CFO Role
CALGARY, Alberta — Tornado Infrastructure Equipment Ltd. (“Tornado”) (TSX-V: TGH; OTCQX: TGHLF) has made a significant change in its management team with the promotion of Derek Li to Chief Financial Officer, effective immediately. Derek takes over from Al Robertson, who has chosen to retire after years of dedicated service.
The Journey of CFO Transition
Brett Newton, Tornado's President and Chief Executive Officer, expressed profound gratitude towards Al Robertson for his invaluable contributions. Under Al’s financial leadership, Tornado has navigated numerous challenges and established a solid base for future growth and success.
Derek Li, who previously served as the Vice President of Finance and Controller, has been a core member of the Tornado leadership for eight years. His remarkable strategic and operational know-how have played a pivotal role in shaping the company’s prosperous journey. As the new Vice President and CFO, Derek will oversee the financial strategy and operational improvements while also stimulating business growth.
Details of the Stock Option Grant
In conjunction with this executive transition, Tornado has also approved a stock option grant under its amended stock option plan. An incentive stock option has been awarded for the purchase of up to 500,000 common shares of the Company, effective immediately. The stock options come with an exercise price of $1.16 per share and will expire five years from the grant date.
Understanding Tornado Infrastructure Equipment Ltd.
Tornado is recognized as a frontrunner in the vacuum truck sector, becoming a trusted choice for utility and oilfield experts, having sold more than 1,700 hydrovacs since its establishment in 2008. The company is dedicated to designing and manufacturing superior hydrovac trucks and providing comprehensive truck maintenance services, primarily located in central Alberta. Tornado's hydrovac trucks cater to excavation service providers across infrastructure and industrial construction, as well as the oil and gas industries.
The Innovation Behind Hydrovac Trucks
Hydrovac trucks utilize high-pressure water combined with vacuum power, allowing for safe excavation of soil and exposing critical infrastructure without causing any damage. This innovative approach is quickly gaining traction across North America as an effective means of safely excavating urban areas and around vital infrastructures. By reducing damage to infrastructure, Tornado contributes to safety and efficiency in construction projects.
Contacting Tornado Infrastructure Equipment Ltd.
If you have any inquiries regarding Tornado Infrastructure Equipment Ltd., you can contact:
Brett Newton
President and Chief Executive Officer
Phone: (587) 802-5070
Email: bnewton@tghl.ca
Derek Li
Vice President and Chief Financial Officer
Phone: (403) 204-6350
Email: dli@tghl.ca
Frequently Asked Questions
Who has been promoted to CFO at Tornado Infrastructure Equipment?
Derek Li has been promoted to Chief Financial Officer, succeeding Al Robertson.
Why did Al Robertson retire?
Al Robertson decided to retire after a significant tenure, contributing greatly to the company’s financial health.
What are the responsibilities of the new CFO?
Derek Li will oversee Tornado’s financial strategy, operational improvements, and support in expanding business endeavors.
What does Tornado Infrastructure Equipment specialize in?
Tornado specializes in designing and manufacturing hydrovac trucks, serving the utility and oilfield markets.
What are hydrovac trucks used for?
Hydrovac trucks employ water and vacuum technology for safe excavation, reducing damage to infrastructure during installation and repairs.
