Vincent J. Arnone
President and Chief Executive Officer
Vincent J. Arnone was appointed President and Chief Executive Officer and a director of the Company April 1, 2015; previously he was Executive Vice President and Chief Operating Officer from January 2014 through March 2015; Executive Vice President, Worldwide Operations since September 2010; a consultant to Fuel Tech from time to time from June 2008 through August 2010; Senior Vice President, Treasurer and Chief Financial Officer of Fuel Tech from February 2006 through May 2008; Vice President, Treasurer and Chief Financial Officer from December 2003 through January 2006; and Controller and Financial Director from May, 1999 through November 2003.
Douglas G. Bailey
Douglas G. Bailey was appointed Executive Chairman of the Board of Directors of Fuel Tech, Inc. April 1, 2015. Mr. Bailey is active in certain of Fuel Tech’s operations concentrating his efforts on strategic opportunities for Fuel Tech assigned by and under the direction of the Board including Fuel Tech’s fuel conversion business development initiative. Previously he was President and Chief Executive Officer of Fuel Tech from April 2010 through March 2015, Chairman of the Board of Fuel Tech since January 2010, director of Fuel Tech since April 1998, and Deputy Chairman from 2002 through December 2009. He also previously served as an employee of Fuel Tech from January 1, 2004 through December 31, 2009. Mr. Bailey has been the President of American Bailey Corporation (ABC), a closely held private equity firm, since 1984 and its Chief Executive Officer (CEO) since 1996.
David S. Collins
Senior Vice President, Treasurer and Chief Financial Officer
Mr. Collins joined Fuel Tech in August 2010 as our Senior Vice President, Treasurer and Chief Financial Officer. Before joining Fuel Tech Mr. Collins worked as an Assurance Partner with Grant Thornton LLP from 2006 to 2010, and prior to that time worked in the assurance practice with Ernst & Young LLP. Mr. Collins has assisted both domestic and international companies with complex accounting issues, equity compensation plans, capital raising activities, mergers and acquisition, and periodic SEC filing requirements. Mr. Collins received a B.A. degree in Accounting from Bethel College, St. Paul MN.
William E. Cummings, Jr.
Senior Vice President, Air Pollution Control Sales
Mr. Cummings became Senior Vice President, Air Pollution Control Sales on January 1, 2009. Previously, he had been Vice President, Sales since April 2006; Vice President, Air Pollution Control Sales since May 2000; Director, Utility Sales since April 1998; and Director, Eastern Region since 1994. Mr. Cummings has 29 years of experience in the air pollution field. He has held positions as National Sales Manager and Regional Sales Manager with the world's leading Flue Gas Conditioning Company, Engineering Specialist for a leading Architect/Engineering firm, Field Engineer and Applications Engineer for a leading Electrostatic Precipitator Supplier, and Field Technician and Laboratory Technician for a regional Emissions Testing Company. He has sold and or participated in over 400 air pollution control projects to date in the United States and Canada. Mr. Cummings holds an A.S. in Environmental Sciences and has completed additional skills training at numerous venues, including Harvard Law School and the University of Michigan.
Timothy J. Eibes
Senior Vice President, Fuel Conversion
Mr. Eibes joined Fuel Tech in August 2006 as Vice President, Project Execution. In March 2010 he was promoted to Senior Vice President and continued to head the Project Execution function. While in that role, he directed the engineering, procurement, project management and construction activities for Fuel Tech. In January 2014 Mr. Eibes assumed a new position that focuses on the Company’s strategic initiatives as assigned by Fuel Tech’s Chief Executive and Chief Operating Officers. Mr. Eibes has over 30 years of related experience that includes nearly 20 years with Alliant Energy Inc. While at Alliant he held various positions, including Director of Natural Gas Operations, General Manager and VP-Asset Management. His professional experience also includes engineering and project management positions at Deere & Company and Johnson Controls Inc. Mr. Eibes received a Bachelor of Technology (Construction) and a Masters of Arts (Industrial Management) from the University of Northern Iowa.
Albert G. Grigonis
Senior Vice President, General Counsel and Secretary
Mr. Grigonis joined Fuel Tech in 2003, having held a succession of legal positions until his election as Vice President, General Counsel and Secretary in December 2008. In January 2011 he was promoted to his current position of Senior Vice President. Previously, Mr. Grigonis was Legal Director for the 3Com Corporation, a high technology computer electronics firm, and served over 16 years in a variety of legal roles as an attorney for Motorola, Inc. Mr. Grigonis received his law degree from Northern Illinois University College of Law.
Robert E. Puissant
Senior Vice President, Fuel Conversion Marketing
Mr. Puissant was appointed Senior Vice President, Fuel Conversion Marketing effective April 1, 2015, concentrating his efforts on Fuel Tech’s fuel conversion business development initiative. From August 2009 to March 2015 Mr. Puissant was Fuel Tech’s Executive Vice President, Marketing and Sales. Prior to joining Fuel Tech, he served as an Operating Executive and Executive Vice President, Strategy and Business Development for School Specialty, Inc., a $1 billion education company serving the Pre-K - 12 market. Previous to that, Mr. Puissant was employed by Wisconsin Energy Corporation, where he held the positions of Senior Vice President, Customer Analysis and Planning and Senior Vice President, Marketing and Strategic Planning. In related energy industry involvement, he held Advisory Board of Director roles with the Electric Power Research Institute (EPRI) and the Natural Gas Vehicle Coalition (NGVC). Mr. Puissant also held a number of positions during a 20-year span at Novell, Inc., Inacom Corporation and Ameritech Corporation. Mr. Puissant earned a B.S. in Sociology from the University of Wisconsin and an M.B.A. from the J.L. Kellogg Graduate School of Management - Northwestern University, with emphasis in Marketing, Sales Leadership and Organizational Effectiveness.
Board of Directors
Vincent J. Arnone
Director and President and Chief Executive Officer
Vincent J. Arnone has been President and Chief Executive Officer and a director of the Company since April 1, 2015; previously he was Executive Vice President and Chief Operating Officer from January 2014 through March 2015; Executive Vice President, Worldwide Operations since September 2010; a consultant to Fuel Tech from time to time from June 2008 through August 2010; Senior Vice President, Treasurer and Chief Financial Officer of Fuel Tech from February 2006 through May 2008; Vice President, Treasurer and Chief Financial Officer from December 2003 through January 2006; and Controller and Financial Director from May, 1999 through November 2003. Mr. Arnone’s key leadership roles in the management of Fuel Tech and long experience with Fuel Tech, his depth of experience regarding the establishment and execution of strategies and operational programs in a multi-national environment along with his experiential knowledge regarding financial matters contribute to the Board’s deliberations regarding the business of the Company.
Douglas G. Bailey
Director and Executive Chairman of the Board
Douglas G. Bailey was appointed Executive Chairman of the Board of Directors of Fuel Tech, Inc. April 1, 2015. Previously he was President and Chief Executive Officer of Fuel Tech from April 2010 through March 2015, Chairman of the Board of Fuel Tech since January 2010, director of Fuel Tech since April 1998, and Deputy Chairman from 2002 through December 2009. He also previously served as an employee of Fuel Tech from January 1, 2004 through December 31, 2009. Mr. Bailey has been the President of American Bailey Corporation (ABC), a closely held private equity firm, since 1984 and its Chief Executive Officer (CEO) since 1996. Mr. Bailey, as Executive Chairman, continues to perform the duties of Chairman of the Board. Mr. Bailey, who remains as an officer and employee of Fuel Tech, also is active in certain of Fuel Tech’s operations concentrating his efforts on strategic opportunities for Fuel Tech assigned by and under the direction of the Board including Fuel Tech’s fuel conversion business development initiative. His current duties and past leadership and management responsibilities as President and Chief Executive Officer of Fuel Tech informs his judgment and participation as a member of Fuel Tech’s Board. His early career began as an engineer with Foster-Miller, Inc. and at Corning, Inc. in a variety of manufacturing and marketing positions. During his subsequent business career, following the founding of ABC, Mr. Bailey, in addition to being ABC’s CEO, served as the CEO of a number of its affiliated companies, bringing to the Fuel Tech Board management ability at senior and executive management levels in a variety of industrial markets. Over the span of more than 35 years, Mr. Bailey has provided board service to a number of other companies including, for example, from 2001 to 2013, serving as a director and chairman of the compensation committee for Endocyte, Inc., a public biotechnology company, along with being a member of its nominating and corporate governance committee. Also, since 2013, Mr. Bailey has served as a director of Nemvcore Medical Innovations, Inc. and since mid-2014, has been chairman of its compensation committee. Mr. Bailey also has previous service on the audit committee and as chairman of the compensation committee for Atlantis Components, Inc. This gives him a broad based understanding of the role of a board of directors and its committees, and positions him well to serve as Fuel Tech’s Executive Chairman of the Board.
W. Grant Gregory(1)(2)(3)
Director and Chairman of the Nominating and Corporate Governance Committee
W. Grant Gregory has been a director of Fuel Tech since August 2011. He currently is also director of Energy Corporation of America. Mr. Gregory also has served as Chairman of Gregory & Hoenemeyer, Inc., a merchant banking firm, since 1988. Mr. Gregory retired as chairman of the board after completing 24 years with Touche Ross & Co., now Deloitte & Touche. In that role, he led global teams in a wide range of industries and 3 countries while servicing the firm’s 100 largest clients. He played a leadership role in the opening of the firm’s first office in the PRC in Beijing and served as an Advisor to the Ministry of Finance for the early Joint Ventures, where he was instrumental in creating the first U.S. Financial Reporting and Accounting courses. Mr. Gregory graduated with distinction from the University of Nebraska, where he was later awarded an Honorary Doctorate of Humane Letters, as well as The Builder Award, the University’s highest non-academic recognition. He has completed advanced management courses at Harvard University’s Graduate School of Business, at New York University, and attended the Air Force War College. As an authority on corporate governance, audit committees and compensation committees, as well as on mergers and acquisitions and tax policy, Mr. Gregory has served successfully in numerous leadership roles as chairman of the board, CEO, merchant banker and director of public, private and non-profit corporations. His extensive experience, coupled with his knowledge of the China markets, provides the Board an expanded knowledge base that can benefit the Board in its deliberations.
Thomas S. Shaw, Jr.(1)(2)(3)
Lead Director and Chairman of the Compensation Committee
Thomas S. Shaw, Jr. has been a director of Fuel Tech since 2001 and Lead Director since February 2011. In September 2010 Mr. Shaw was elected to serve as Vice Chairman and as a member of the compensation committee of the Board of Trustees of Wilmington University. He also continues to serve as a Trustee and Treasurer and Chairman of the Finance and Audit Committee of Wilmington University. In June 2010 he was appointed to the Delaware Board of Pension Trustees. Mr. Shaw retired in September 2007 from his position as Executive Vice President and Chief Operating Officer of Pepco Holdings, Inc. With 36 years of managerial experience in the utility industry with Pepco Holdings, Inc. and two of its predecessor companies — Delmarva Power and Conectiv, Mr. Shaw brings to the Fuel Tech Board demonstrated managerial experience at senior and executive levels that includes over 30 years of responsibility for the management, operation, maintenance, engineering and construction of fossil fueled electricity generating plants and their related equipment. He held a variety of positions with the Pepco companies including Power Plant Engineer, Plant Superintendent/Manager, General Manager of Production, Vice President of Production, and President and Chief Operating Officer. Mr. Shaw’s experiential base provides Fuel Tech’s Board with a broad based viewpoint from a utility customer perspective. In addition, during the last 17 years of his career, Mr. Shaw was also responsible for the management and oversight of numerous unregulated, non-utility businesses, including serving as the initial President of Conectiv Energy, the power generation and trading subsidiary of Pepco Holdings, Inc. This business experience has provided Mr. Shaw insights into the operational requirements of a large company and more specifically, a utility, in an array of areas including finance, commercial transactions, corporate governance, executive compensation, human resource matters, merger and acquisition activities, and environmental regulations, all of which makes him a skilled advisor to the Fuel Tech Board.
Dennis L. Zeitler(1)(2)(3)
Director and Chairman of the Audit Committee
Dennis L. Zeitler has been a director of Fuel Tech since 2013. Mr. Dennis L. Zeitler served as Senior Vice President and Special Advisor of Mine Safety Appliances Co. from September 4, 2013 to January 1, 2014. Mr. Zeitler served as Senior Vice President, Chief Financial Officer and Treasurer of Mine Safety Appliances Co. from June 2007 to September 4, 2013. In his tenure at MSA, Mr. Zeitler held ever increasing positions of responsibility. His earlier positions included Treasurer; Assistant Treasurer; and Manager, Financial Services (1989-1998), Vice President and Treasurer (1998-2000), and Vice President, Chief Financial Officer and Treasurer (2000-2007). Mr. Zeitler is a highly accomplished Chief Financial Officer and executive manager, serving as MSA’s Chief Financial Officer and Treasurer for thirteen years. MSA is a global leader in the development, manufacture and supply of products that protect people’s health and safety. Mr. Zeitler has a deep understanding of all aspects of global finance for a publicly traded company. During his career with MSA, its global sales volume dramatically increased and the number of countries in which MSA operated expanded substantially. This provided Mr. Zeitler a sophisticated experiential knowledge base regarding financial and Treasury operations and business requirements in a broad array of markets and countries worldwide. In addition to his duties as Chief Financial Officer for MSA, Mr. Zeitler led MSA’s Global Pricing Strategy and Business Development teams, 4 devising and implementing global strategies across all of MSA’s operating elements. He has significant experience dealing with the issues of growing businesses around the world. These experiences and qualifications make Mr. Zeitler an excellent addition to the Fuel Tech Board to help inform the Board’s judgment in these areas.
James J. Markowsky, Ph.D.
James J. Markowsky, Ph.D. is currently a member of the Board of Directors for Energy Corporation of America since 2011, and Chair of their Audit Committee since July 2016. Previously, Dr. Markowsky served as Assistant Secretary for Fossil Energy, US Department of Energy, in 2009 and 2010. He served as President of Research and Development Solutions, LLC (RDS), in 2004 and 2005. Prior to RDS, Dr. Markowsky served as Executive Vice President, Power Generation, at American Electric Power Service Corporation (AEP) from 1996 to 2000. In 2000, he retired from AEP. Earlier positions of Dr. Markowsky at AEP included Executive Vice President, Engineering and Construction (1993-1996), Senior Vice President and Chief Engineer (1988-1993), Vice President, Mechanical and Environmental Engineering (1988), Vice President, Mechanical Engineering (1987-1988), Assistant Vice President, Mechanical Engineering (1984-1987), AEP Sloan Fellow at Massachusetts Institute of Technology (1980-1981), Manager, Analytical and R&D Section (1977-1984), and Senior Engineer, Mechanical Engineering Division (1971-1977). Dr. Markowsky’s professional affiliations include membership in the National Academy of Engineering and he is an American Society of Mechanical Engineers Fellow. He holds a Bachelor’s degree in Mechanical Engineering from Pratt Institute, Master of Science and doctoral degrees in Mechanical Engineering from Cornell University and a Master of Science degree in Management from Massachusetts Institute of Technology. Dr. Markowsky has extensive experience related to power generation including, during his long and successful AEP career, the management along with the engineering, design, construction and operation of AEP’s then fleet of 21,000 MW of coal-fired power generation, and the management and implementation of R&D activities related to both the environmental and operational performance of fossil power plants. Dr. Markowsky’s combined experience in management and corporate governance makes him an excellent advisor to help inform the Board’s judgment on a variety of matters.
(1) Member of Fuel Tech’s Audit Committee
(2) Member of Fuel Tech’s Compensation Committee
(3) Member of Fuel Tech's Nominating and Corporate Governance Committee