- After about five years in the position
- Praise and thanks for Nagar
- Jeff Quick taking over temporarily
- Search for a successor
- Nagar will remain as Technology Principal and Chairman of the Board at 374Water
- Nagar kept it short and said 59 words
(exechange) — Durham, North Carolina, September 1, 2023 — Kobe Nagar, chief executive of 374Water, leaves his position. As announced by 374Water Inc. in a news release on Friday, September 1, 2023, Yaacov (Kobe) Nagar leaves his post as chief executive officer at the cleantech company, after about five years in the role, effective immediately.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
374Water will undertake a search for a successor.
Kobe Nagar’s duties as CEO will be taken over temporarily by Jeff Quick, most recently General Counsel at 374Water Inc., as interim Chief Executive Officer.
“To focus on technology deployment, enhancement, and customer delivery”
374Water did not give an explicit reason for Kobe Nagar’s departure from the CEO post. 374Water stated: “Yaacov “Kobe” Nagar will transition from Chief Executive Officer, effective September 1, 2023, as part of a strategic realignment by the Company to focus on technology deployment, enhancement, and customer delivery.”
Nagar will remain as Technology Principal and Chairman of the Board at 374Water
374Water stated: “Mr. Nagar assumes the role of Technology Principal and will continue as the Chairman of the Board of Directors.”
Share price decline since September 2022
The announcement follows a decline in 374Water Inc.’s share price of 60% since September 2022.
In the position of CEO since 2018
Kobe Nagar became CEO of the Company in 2018.
Nagar will continue supporting development and the deployment of the Company’s commercial AirSCWO systems, including the deployment of the initial system to Orange County Sanitation District.
As co-founder, inventor, and one of the lead engineers developing the AirSCWO technology, Nagar remains instrumental to fulfill the Company’s mission of ushering in a new era in waste management.
Nagar is a co-founder of 374Water and patent inventor of the supercritical water oxidation AirSCWO™ system.
He has been the Chief Executive Officer of 374Water from inception in July 2018 and the Chairperson of the Board since the Merger.
Nagar holds degrees in chemical engineering from Ben Gurion University (2001) and material engineering from Tel-Aviv University (2007) and thereafter held positions in the defense industry and renewable energy sectors in Israel, where he worked on developing fuel cell, CO2 sequestration and low energy chemicals technologies.
He joined the Bill and Melinda Gates Foundation project at Duke University in 2017 to scale up and commercialize the SCWO technology.
59 words by Kobe Nagar
In the release announcing his departure as CEO of 374Water Inc., Kobe Nagar received praise and thanks.
In announcing his departure, Kobe Nagar kept it short and said 59 words.
“Critical point”
Kobe Nagar stated: “Creating 374Water and bringing it to this critical point has been an apex of my career. As we look ahead, advancing our technology and deploying our systems is a top priority. I am grateful to have been able to assemble a team of pioneers that propelled the company forward and look forward to continuing to advance our mission together.”
Push-out Score for Kobe Nagar’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Kobe Nagar was pushed out or felt pressure to leave his position.
exechange reached out to 374Water and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 36.2023 ($).