Centrus Energy Announces CEO Transition

Source: www.gulfoilandgas.com 11/20/2023, Location: North America

Centrus Energy Corp (NYSE American: LEU) announced that Amir Vexler will succeed Daniel B. Poneman as Chief Executive Officer on January 1, 2024.

Mr. Poneman joined Centrus on March 5, 2015, and over the past eight years has overseen the rebuilding of the Company's order book, strengthening the balance sheet, and returning the Company to profitability in 2021. In October, Centrus inaugurated the first new U.S.-owned uranium enrichment plant to begin production in nearly 70 years and made its first delivery to the U.S. Department of Energy earlier this month. These achievements are reflected in the growth of the company's total market capitalization 20-fold since 2015 to more than $800 million today and returns to shareholders almost five times higher than the S&P 500.

Mikel Williams, Chairman of the Board of Directors, stated, "This transition comes at a time of strength for Centrus. On behalf of the board and our shareholders, I want to thank Dan for his outstanding leadership over the past eight years. The selection of Amir Vexler to succeed Dan next year reflects the culmination of our thorough succession planning process. Amir has a demonstrated track record of success as a CEO and a leader of nuclear fuel operations and is well-qualified to lead our continued growth and development in the years ahead."

"From the moment I arrived in Washington as a summer intern in 1975, I became deeply interested in the promise of nuclear energy and the importance of America's global nuclear leadership a cause that has been the focus of my professional life ever since," Poneman said. "These past eight years have represented the culmination of that effort to restore America's domestic uranium enrichment capability and leadership on the world stage. I am proud of the extraordinary work our dedicated team has done to strengthen our national security and build a domestic supply chain to fuel a new generation of advanced reactors around the world. I look forward to continuing to support the Company and its success going forward."

"I am thrilled to be joining Centrus at a pivotal time for the company and the industry," said Vexler. "With production of High-Assay Low-Enriched Uranium beginning at the company's plant in Ohio, Centrus is in prime position to help fuel the future of nuclear energy. Centrus has tremendous growth potential and a critical role to play in meeting America's energy security and national security needs. I can't wait to get started and look forward to what we will achieve together."

Amir Vexler brings extensive experience in the nuclear industry to Centrus, with a strong background in manufacturing, engineering services, commercial operations, and business development. He has served as President and Chief Executive Officer of Orano USA since 2021, overseeing Orano's U.S. sales of nuclear fuel, decommissioning services, used nuclear fuel management, and medical isotopes as well as engineering and technology services for the federal government. Previously, he spent 20 years at General Electric Company, where he served in a number of leadership positions, including Chief Executive Officer, Chairman of the Board, and Chief Operating Officer of Global Nuclear Fuels, a joint venture of GE and Hitachi in Wilmington, North Carolina.


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