Purecycle Technologies Shares Slide On Leadership Changes Announcement

Purecycle Technologies Inc PCT has promoted Dustin Olson, current Chief Operating Officer and Chief Manufacturing Officer, to the role of CEO, along with becoming a member of the board, effective August 5, 2022.
Mr. Olson succeeds Mike Otworth, who will resign to return to Innventure, a company he helped found.
Dustin Olson has been with Purecycle since 2021, leading manufacturing and operations. He has over 20 years of plastics, petrochemical, and refining experience in the United States, Europe, and China.
Dan Coombs, a current member of Purecycle's Board of Directors, will be appointed to the newly formed post of Executive Chairman of the Board of Directors following Mike's departure.
Price Action: PCT shares are trading lower by 2.29% at $7.25 during the post-market session on Thursday.