Business Context and Reporting Period
This Form 8-K Current Report was filed by Energy Recovery, Inc. on March 5, 2019, with the earliest event reported on that date. The filing addresses corporate governance changes regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Departure of Chairman: Mr. Hans Peter Michelet notified the Board of his intention to retire from the Board and as Chairman of the Board upon the completion of the current term at the 2019 Annual Meeting. He has served for nearly 24 years.
- Succession: Mr. Robert Mao has been appointed as the next Chairman of the Board to succeed Mr. Michelet.
- Reason for Departure: Mr. Michelet confirmed his decision is not based on any disagreement with the Company.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on business operations. A press release dated March 8, 2019, regarding the appointment of Mr. Mao is attached as Exhibit 99.1 but is not deemed "filed" for liability purposes under Section 18 of the Exchange Act.
Key Facts for Investor Verification
- Confirm the exact date of the 2019 Annual Meeting to determine when the leadership transition will officially occur.
- Review the attached press release (Exhibit 99.1) for additional context on Mr. Mao's background and qualifications.
- Verify if there are any other pending governance changes or executive departures not detailed in this specific 8-K.