Ionics, Incorporated announced today that its board of directors recently appointed John F. Curtis as vice president, Strategy and Operations.
Curtis, 53, was employed for over 30 years by Ernst & Young LLP (E&Y), most recently as the partner-in-charge of that firm's Venture Capital Advisory Group, Europe and as senior advisory partner. During his career with E&Y, Mr. Curtis founded the firm's New England Entrepreneurial Services Department, served as the liaison partner to the firm's German and Swiss organizations, and developed a strong expertise in evaluating and monitoring the performance of portfolio businesses.
He holds a B.S. degree in mathematics from Boston College, a masters degree in accounting from the Stern School of Business of New York University, and is a graduate of the Advanced Management Program of Harvard Business School.
Commenting on the appointment of Curtis, Douglas R. Brown, Ionics' chief executive officer, stated, "I am delighted that John has agreed to join the Ionics team. I have worked with John on many transactions over the past 17 years. John brings significant experience in helping companies to improve their operations and reduce costs. Ionics has undertaken a significant restructuring program and John will play an important role in helping us achieve optimal results."
In connection with Curtis' appointment, the board of directors granted to Curtis an inducement non-qualified stock option to purchase 200,000 shares of Ionics common stock at an exercise price of $22.00 per share, the last sales price as reported on the New York Stock Exchange on August 28, 2003.
Ionics is a global separations technology company involved in the manufacture and sale of membranes, equipment and own and operate services for the purification, disinfection, concentration, treatment and analysis of water, wastewater and ultrapure water. Over a period of more than 50 years Ionics has built more desalination plants than any company in the world.