Koil Energy CEO Charles Njuguna resigns; Erik Wiik appointed CEO effective April 1, 2024

Koil Energy Solutions, Inc.

Charles Njuguna resigns as CEO, CFO, President, and Board member effective March 31, 2024; cites family health matter.
Employment agreement with Njuguna terminated effective March 31, 2024.
Erik Wiik appointed CEO effective April 1, 2024; also joins Board. He had been consulting since September 2023.
Wiik has over 30 years energy industry experience, including 24 years at Aker Solutions, most recently as Regional President N.A.
Wiik receives $325K base salary, annual bonus eligibility, 300K restricted shares and 300K options vesting over three years.

item 1.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Erik Wiik

Chief Executive Officer

KLNG · Koil Energy Solutions, Inc.

Effective: 2024-04-01
Filed: March 11, 2024, 7:59 PM ET

On March 6, 2024, the Board appointed Erik Wiik as the Company’s Chief Executive Officer, effective April 1, 2024.

Departed

Charles K. Njuguna

President, Chief Executive Officer, Chief Financial Officer and as a member of the board of directors

KLNG · Koil Energy Solutions, Inc.

Effective: 2024-03-31
Successor: Erik Wiik
Filed: March 11, 2024, 7:59 PM ET

On March 4, 2024, Charles K. Njuguna resigned as President, Chief Executive Officer, Chief Financial Officer and as a member of the board of directors (the “Board”) of the Company, effective as of March 31, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Erik Wiik was appointed as Chief Executive Officer at Koil Energy Solutions, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On March 6, 2024, the Board appointed Erik Wiik as the Company’s Chief Executive Officer, effective April 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Charles K. Njuguna resigned as President, Chief Executive Officer, Chief Financial Officer and as a member of the board of directors at Koil Energy Solutions, Inc..

Action: resigned
Role: President, Chief Executive Officer, Chief Financial Officer and as a member of the board of directors

Exact text from the filing

On March 4, 2024, Charles K. Njuguna resigned as President, Chief Executive Officer, Chief Financial Officer and as a member of the board of directors (the “Board”) of the Company, effective as of March 31, 2024.

View on SEC.gov

Koil Energy Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-001404

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