PRINCETON JUNCTION, N.J., Feb. 08, 2023 (GLOBE NEWSWIRE) — MISTRAS Group, Inc. (MG: NYSE) – a leading “one source” multinational provider of technology-enabled asset protection solutions used to maximize the uptime and safety of critical energy, industrial, and public infrastructure – announced today that Jonathan Wolk, Senior Executive Vice President and Chief Operating Officer (COO), will be departing MISTRAS effective immediately. In the interim, MISTRAS Group President and Chief Executive Officer (CEO), Dennis Bertolotti, will assume Mr. Wolk’s duties.
“We thank Jonathan for his service to MISTRAS and wish him success in the future,” said Dennis Bertolotti, MISTRAS Group President and Chief Executive Officer.
The Board of Directors also announced today that the Company has hired AlixPartners to undertake an operational review of the Company designed to accelerate profitable growth and EBITDA in the coming months.
Founder and Executive Chairman, Dr. Sotirios J. Vahaviolos stated, “The engagement of AlixPartners will identify meaningful margin improvement opportunities and steps to achieve sustained cost savings”
Independent Lead Director, Manuel Stamatakis stated: “Our Board is laser‐focused on taking steps to position the organization for success and to drive shareholder value.”
About AlixPartners
AlixPartners is a results-driven global consulting firm that specializes in helping businesses successfully address their most complex and critical challenges. Its clients include companies, corporate boards, law firms, investment banks, private equity firms, and others. Founded in 1981, AlixPartners is headquartered in New York and has offices in more than 20 cities around the world. For more information, visit www.alixpartners.com.
About MISTRAS Group, Inc. – One Source for Asset Protection Solutions®
MISTRAS Group, Inc. (NYSE: MG) is a leading “one source” multinational provider of integrated technology-enabled asset protection solutions, helping to maximize the safety and operational uptime for civilization’s most critical industrial and civil assets.
