Tetra Technologies, Inc. has announced a change in its top leadership with the planned retirement of Elijo Serrano, the Senior Vice President and Chief Financial Officer, effective March 31, 2026. To fill this role, the company has appointed Matt Sanderson as the new Executive Vice President and Chief Financial Officer.
Since joining Tetra in November 2016, Matt Sanderson has held various significant positions within the company, including Senior Vice President of Energy Services from 2016 to 2022, before assuming his current role as Chief Commercial Officer. He has been credited with playing a vital role in establishing the company's leadership in the water management and flowback and completion fluids and products segments, as well as contributing significantly to the company's improved financial performance over the past three years.
Tetra's CEO and President, Brady Murphy, expressed his gratitude to Elijo Serrano for his substantial contributions throughout his time with the company, acknowledging his role in guiding Tetra through challenging times, including the COVID-19 pandemic in 2020. He also commended Serrano's contributions to shaping the company's transformational 'One Tetra 2030' strategy, which was recently presented at an investor day at the NYSE in New York City.
In terms of the financial performance, there is no specific information provided in the press release about the company's financial metrics, such as revenue, profit, or margins. The release does mention that since becoming Chief Commercial Officer, Sanderson has contributed significantly to the company's improved financial performance over the past three years. However, exact figures or percentages are not provided in the release.
As part of Tetra's succession planning process, the company has ensured a smooth transition by allowing both Serrano and Sanderson to continue with their existing duties and responsibilities until the official handover. This strategic move aims to maintain continuity and stability within the company's financial leadership.
Tetra Technologies, Inc. is an energy services and solutions company with a global presence, focusing on environmentally conscious services and solutions. Its portfolio includes energy services, industrial chemicals, and critical minerals. The company is also expanding into the low-carbon energy market with chemistry expertise, key mineral acreage, and global infrastructure.
The press release does not provide specific details about the company's financial performance, such as changes in revenue, profit, or any other financial metrics. Instead, it focuses on the leadership transition within the company and the contributions of the outgoing and incoming executives. Following these announcements, the company's shares moved -1.88%, and are now trading at a price of $7.84. If you want to know more, read the company's complete 8-K report here.
