Business
Verde Clean Fuels, Inc. Announces New CEO and Engagement of Financial Advisor to Evaluate Strategic Alternatives
George Burdette, current Chief Financial Officer, appointed Chief Executive Officer Roth Capital Partners retained as financial advisor to evaluate strategic
About this update from First Solar, Inc.
[{"type":"text","content":"\n\nGeorge Burdette, current Chief Financial Officer, appointed Chief Executive Officer\n\n\n\nRoth Capital Partners retained as financial advisor to evaluate strategic alternatives, including potential merger or sale\n\n\n\n HOUSTON--(BUSINESS WIRE)--\nVerde Clean Fuels, Inc. (NASDAQ: VGAS) (“Verde” or the “Company”) announced today the appointment of George Burdette as Chief Executive Officer (“CEO”) and engagement of Roth Capital Partners (“Roth”) as financial advisor to assist the Company in evaluating strategic alternatives. These announcements are part of the Company’s continued advancement of its previously announced restructuring and cost reduction initiatives. Mr. Burdette succeeds Ernie Miller who is stepping down from his role as CEO to pursue another opportunity. Mr. Miller will remain with the Company as a senior advisor. Mr. Burdette, who has served as the Company’s Chief Financial Officer (“CFO”) since October 2024, will also continue in that role.\n\n\n“George has been deeply involved in the Company’s financial strategy and restructuring initiatives and brings strong financial and operational leadership. He is well positioned to lead Verde as we move into our next phase focused on capital-lite opportunities to deploy our STG+® technology. On behalf of the Company, I would also like to thank Ernie for his service and contributions,” said Ron Hulme, Chairman of the Company’s Board of Directors.\n\n\nMr. Burdette commented, “I am excited about the opportunity to lead Verde on executing our revised strategy focused on the most optimal path to deploy our technology while being extremely disciplined with our resources. Related to our revised strategy, we are moving forward with a structured process to evaluate strategic alternatives that may be available to us, including a potential sale or merger. I look forward to working closely with our Board and advisors on this process to execute efficiently and maximize shareholder value.”\n\n\nMr. Burdette is a proven senior executive with more than 20 years of experience in financial, corporate development, and commercial leadership. Mr. Burdette has successfully led global teams in both public and private equity companies and has executed more than $8 billion of complex mergers, acquisitions, divestitures, and financings. Prior to joining the Company, Mr. Burdette served as C...