Flotek Announces Departure of Director David Nierenberg

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May 24, 2024, 18:20 ET

HOUSTON, May 24, 2024 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced that David Nierenberg is stepping down from his position as a member of the Company's Board of Directors.

Harsha V. Agadi, Chairman of the Board of Directors of Flotek, said, "David's leadership during his six years of service has played a pivotal role in the Company's turnaround. David has provided the board unmatched corporate governance expertise as well as deep strategic insights helping the Company to achieve operational and financial success while navigating the volatility inherent in the industry. During David's tenure, annual revenues have more than quadrupled since 2021 resulting in the Company achieving its first year of profitability since 2017. On behalf of my fellow directors, we wish him success in all his future endeavors."

Ryan Ezell, Chief Executive Officer, said, "I am grateful to David for his years of service and the personal career mentorship and counsel he provided me during my time at Flotek. David's contributions to placing us back on the path to profitability and restoring the Flotek brand as a leading provider of sustainable chemistry and data solutions cannot be overstated. In every regard, David leaves the Company in far better shape than when he arrived."

About Flotek Industries, Inc.

Flotek Industries, Inc. is an advanced technology-driven, green chemical and data analytics company providing unique and innovative completion solutions that have a proven, positive impact on sustainability and reducing the overall environmental impact of energy on air, land, water and people. Flotek has an intellectual property portfolio of over 170 patents and a global presence in more than 15 countries throughout North America, Latin America, the Middle East and North Africa. Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions which improve well performance and allow its customers to generate higher returns on invested capital.

Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK". For additional information, please visit www.flotekind.com.

SOURCE Flotek Industries, Inc.