Ecology Coatings Announces Board Changes
September 23, 2008
AUBURN HILLS, MI - Ecology Coatings, Inc. has announced the resignation from the Board of Directors of its Chief Financial Officer, David W. Morgan, and its Chief Operating Officer and President,F. Thomas Krotine, effective Sept. 15, 2008. Concurrently, the company announced the appointment of two new directors, JB Smith, Managing Partner of Equity 11 Ltd., and Rocco DelMonaco Jr., Vice President of University Safety, Georgetown University.
"On behalf of the Board, I would like to express our appreciation to both Tom and Dave for their significant input as directors, and for their continued efforts and contribution to the company's growth and success, as valuable members of the Ecology Coatings management team," said Ecology Chairman Richard D. Stromback. "We are pleased to welcome to the Board JB Smith and Rocco DelMonaco," added Stromback.
"JB is a seasoned executive who has worked in private equity for over 10 years. He has played a key role in the development of some very successful companies," noted Stromback. "His involvement with private equity and emerging companies provides a balance that will benefit Ecology Coatings as it moves toward greater commercialization of its environmentally friendly UV-cured coating technologies."
Stromback continued, "We are also pleased to welcome Rocco to the Board. His diversified experience and background will be of great value to our business. I am confident we can all work together to develop a sound strategy for the company going forward that will leverage our capabilities to maximize shareholder value and become a leader within the clean technology coatings industry."
Smith is currently the Managing Partner for Equity 11 Ltd. and serves as Chairman of Isekurity, a leader in identity theft solutions. He is a partner in WM Reign Ltd., an investment model dedicated to helping finance churches.
DelMonaco is currently the Vice President of University Safety at Georgetown University, where he oversees, manages and leads the Department of Public Safety, Department of Safety & Environmental Management, and the Department of Emergency Management and Business Continuity. Prior to joining Georgetown University, DelMonaco was with ManTech Security and Mission Assurance Corp. as its Assistant Executive Director. DelMonaco has held a number of management positions for the Department of Homeland Security and the United States Secret Service.
Ecology Coatings plans to add two additional directors, and the Board will nominate and appoint a Chair of the Audit Committee.