– UK, Manchester / USA, OH – Kalibrate Technologies plc (AIM: KLBT), a provider of proprietary software-based products and services to the global petroleum retail industry, is pleased to announce the appointment of Gregg Budoi as the Group’s new Chief Financial Officer, succeeding Brad Ormsby. Mr Budoi will be based in Kalibrate’s North American office in Cleveland, Ohio, with Bob Stein, CEO, and will take on a new, enlarged role that will encompass Finance, Human Resource, M&A and Business Development activities for the Group.
Gregg Budoi has over 20 years’ experience in senior finance and operational roles, primarily within companies in the petroleum retail, convenience store, and finance sectors. He joins Kalibrate from EZ Energy USA, Inc., where he was Chief Executive Officer and President. Having co-founded EZ Energy in 2008, he built the business to a chain of over 90 operated fuel/convenience stores across multiple locations with an annual revenue in excess of $500 million, before overseeing the sale of EZ Energy to 7-Eleven in October 2012.
Prior to this, Mr Budoi was Managing Director and Partner of Barnes Wendling Corporate Finance, LLC, which is a financial advisory firm created through the merger of Budoi & Company, Inc. and Barnes Wendling CPAs accounting firm. From 1997 to 2002, Gregg was Chief Financial Officer for Dairy Mart Convenience Stores, Inc. – working alongside Bob Stein who served as Chief Executive Officer. Dairy Mart was a publicly quoted, 850+ outlet chain of convenience stores that operated in seven mid-western states under the Dairy Mart brand
Having joined Kalibrate in March 2012 and played an important role in the Group’s successful flotation on AIM in November 2013, Brad Ormsby will step down from his role as Chief Financial Officer and from the Board now that the Group has succeeded with its admission to AIM and has started to deliver on several of the growth objectives set out in the Company’s IPO admission document.
Mr Budoi’s appointment to the Board will take effect immediately. Brad Ormsby has resigned as a director of the Company but will remain with the Group for a transition period ensuring continuity in the management of Kalibrate’s financial affairs.
Commenting on the appointment, Bob Stein, Chief Executive Officer of Kalibrate, said: “On behalf of everyone at Kalibrate and the Board, I wish to thank Brad for his dedication and contribution to the Company particularly throughout the IPO process. 2014 has been a transformational year for Kalibrate and Brad leaves us in excellent financial health with a firm foundation for growth.
“With a significant proportion of Kalibrate’s sales deriving in North America, we are strengthening our finance and executive team in the US so with this in mind, I’m delighted to welcome Gregg who has a significant experience within the petroleum retail, convenience store, and finance sectors as well as extensive merger and acquisition experience. I am confident that Gregg’s wealth of expertise and proven track record of taking growth companies to the next level will help all of us at Kalibrate make good on our potential.”
About Kalibrate Technologies plc
Kalibrate’s strategy and technology solutions empower fuel retailers around the globe to drive greater value on investment and achieve greater success on their own terms. Its proven software and analytics solutions draw on more than 20 years of strategic expertise and insight into the needs and opportunities of fuel retailers. Kalibrate is headquartered in Manchester, United Kingdom with offices in Florham Park, New Jersey and, Tulsa, Oklahoma (US), Tokyo, Japan, Seoul, Korea, Mumbai, India, Shanghai, China and Rio de Janeiro, Brazil. For more information, please visit KalibrateTech.com.
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