ClearStream Announces Management Changes

ClearStream Energy Services Inc. announces it has made changes to its management team.

ClearStream’s chief financial officer, Gary Summach has resigned from the company but will remain in his position until the release of Q3 results on Nov. 6, 2018.

The company will immediately initiate a process to recruit a growth-oriented financial executive to fill the position of CFO.

ClearStream has promoted Barry Card to chief commercial officer, effective immediately. Card joined ClearStream in 2016 as vice-president - market development, and was promoted to senior vice-president - business development, in 2017. He has over 18 years of experience in the oil and gas industry, where he has extensive experience in business development, market growth and strategy development.

In addition, ClearStream announced that Alec Silenzi has joined the company as general counsel and corporate secretary. Silenzi has over 22 years of professional experience including 11 years in a general counsel role with both oilfield services and exploration and production organizations. He brings a broad and diverse skillset to ClearStream that includes corporate, commercial, transactional, governance and compliance experience.

“ClearStream remains focused on strategic growth initiatives that will progress the company to the next level. Having completed a major refinancing transaction earlier this year to strengthen its balance sheet, and with the recently announced acquisition to add manufacturing capacity for our Wear Technology business, ClearStream will actively seek to expand its scope of services and geographical footprint with more value-added solutions and technologies,” said CEO Yves Paletta.

“We are confident in the ability of our experienced management team to execute our growth strategy and are very pleased to have Barry in his new role and welcome Alec to the ClearStream team.”