- Push-out Score suggests push-out forces
- After about three years on the job
- Thanks and good wishes for Murphy
- Mark Weinswig taking over
- Murphy said 68 words
(exechange) — Alameda, California, July 31, 2017 — Thomas Murphy, finance chief of Aqua Metals, leaves. It is a change at short notice. As announced by Aqua Metals, Inc. in a news release on Monday, July 31, 2017, Thomas Michael Murphy leaves the post as Chief Financial Officer at the recycling company after about three years on the job, effective August 10, 2017.
Murphy’s duties are taken over by Mark Weinswig, most recently Chief Financial Officer at Emcore.
The move is a generational change as well. Mark Weinswig is about 21 years younger than Thomas Murphy.
The fact that Murphy’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Aqua Metals did not explicitly explain the reason for Murphy’s imminent move, opening the door for speculation.
Precise information about the future plans of Murphy was not immediately available.
Aqua Metals said: “As CFO, Mr. Weinswig will succeed Thomas Murphy, who is retiring from the position.”
Share price decline
The change follows a decline in the share price of Aqua Metals, Inc. since March 2017.
Chaired by Stephen Clarke
Aqua Metals, Inc. is chaired by Stephen Clarke.
Stephen Robert Clarke is a Co-founder of Aqua Metals, Inc. and has been its Executive Chairman, Chief Executive Officer and President since June 2014.
On the job as CFO since 2014
Thomas Michael Murphy is a Co-Founder of Aqua Metals, Inc. and has been its Chief Financial Officer and Executive Director since June 2014.
Murphy is responsible for all financial and general administrative areas of the company as well as corporate real estate and human resources.
Murphy is also a member of the Company’s board directors since inception in June 2014.
Murphy worked alongside Clarke and Mould in the development of the AquaRefining process and the Company’s current business before the formation of the Company.
Murphy served as Chief Financial Officer of Applied Intellectual Capital, Ltd. an incubator for technologies using electrochemistry.
Applied Intellectual Capital was listed on the AIM exchange in London and had operations in four countries.
Earlier in his career, Murphy was Controller for two international specialty construction companies.
The work involved domestic as well as jobs in Asia, Central and South America.
He was also the Chief Financial Officer for Target Publishing, the largest financial newsletter publisher at the time of his employment.
Other previous positions include Chief Financial Officer of a national bakery, Controller of an aircraft sales and leasing company and Controller of a cargo airline.
Murphy will continue as a consultant to the company on a number of matters and to ensure a smooth transition.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Thomas Murphy’s imminent move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 32.2017 ($).