Enerflex(EFXT) Newsfilter·2025-03-20 02:00Leadership Transition - Marc Rossiter has stepped down as President, CEO, and Director of Enerflex, effective immediately [2][5] - Preet Dhindsa, the current Senior Vice President and CFO, has been appointed as Interim CEO [3][5] - The Board is conducting a comprehensive search for a permanent CEO with the assistance of an executive search firm [4] Company Strategy and Outlook - Enerflex reaffirms its outlook for 2025, expecting steady demand across its business lines and geographic regions [7] - The company aims to enhance profitability, leverage its position in core operating countries, and maximize free cash flow [6] - Approximately 65% of Enerflex's gross margin before depreciation and amortization is generated from its Energy Infrastructure product line and After-Market Services [7][12] Financial Performance and Shareholder Returns - Enerflex plans to increase direct shareholder returns, including a previously announced 50% increase in its quarterly dividend [6] - The company intends to implement a normal course issuer bid, subject to market conditions [6][18] - Total capital expenditures for 2025 are projected to be between 130 million, with growth capital spending focused on customer-supported opportunities in the US and Middle East [12][14] Management Background - Preet Dhindsa has over 25 years of experience in the energy and financial services industries and has been with Enerflex since October 2023 [3][9] - Joe Ladouceur, who will serve as Interim CFO, has over 30 years of experience in finance and energy industries [3][10]