Enerflex Ltd.: Marc Rossiter Steps Down as CEO, Preet Dhindsa Named Interim CEO
Calgary, Alberta, March 19, 2025 – Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”), a leading provider of natural gas compression, processing, and fluid handling systems, today announced significant leadership changes. Marc Rossiter, who has served as President, CEO, and Director since 2018, has stepped down from all three positions, effective immediately.
New Interim CEO Appointed
Preet Dhindsa, currently the Executive Vice President and Chief Operating Officer, has been appointed as the interim CEO. Dhindsa brings extensive experience to the role, having spent over 20 years with Enerflex in various leadership positions. The Board of Directors is actively engaged in the search for a permanent CEO.
2025 Outlook Reaffirmed
Despite the leadership change, Enerflex remains committed to its 2025 outlook. The Company expects to deliver strong financial performance, driven by its focus on innovation, operational excellence, and customer service. Enerflex continues to invest in its strategic growth initiatives, including the expansion of its product offerings and geographic reach.
Shareholder Returns Expansion
In addition to the leadership changes, Enerflex also announced its intention to expand direct shareholder returns. The Company will increase its quarterly dividend by 10% and will initiate a share repurchase program. These actions reflect Enerflex’s commitment to delivering value to its shareholders.
Impact on Shareholders
These developments are positive for Enerflex shareholders. The appointment of a seasoned executive as interim CEO provides stability during the transition period. The increased dividend and share repurchase program demonstrate the Company’s confidence in its financial position and commitment to returning value to shareholders.
Impact on the World
The leadership change at Enerflex has broader implications for the energy industry. With the global energy landscape evolving rapidly, companies must be agile and innovative to succeed. Enerflex’s focus on these areas, under both Rossiter’s leadership and now Dhindsa’s, positions the Company well to capitalize on opportunities in the natural gas sector.
Conclusion
Enerflex’s announcement of Marc Rossiter’s departure and the appointment of Preet Dhindsa as interim CEO, along with the reaffirmation of its 2025 outlook and the expansion of direct shareholder returns, underscores the Company’s commitment to delivering value to its stakeholders. These actions should provide stability and confidence to Enerflex shareholders during this transition period.
As the energy industry continues to evolve, companies like Enerflex that focus on innovation, operational excellence, and customer service will be well-positioned to succeed. With a strong leadership team in place and a clear strategic direction, Enerflex is poised to capitalize on the opportunities in the natural gas sector and create value for its shareholders.
