BROOMFIELD, Colo., January 28, 2022--(BUSINESS WIRE)--Today, Navajo Transitional Energy Company (NTEC) announced the retirement of its inaugural Chief Executive Officer (CEO), Clark Moseley, and appointment of Vern Lund as his successor.
In 2013, the Navajo Nation established NTEC as an autonomous commercial entity with the goal of purchasing the Navajo Mine, preserving the associated jobs and revenues, and achieving greater sovereignty over their natural resources. As CEO, Mr. Moseley, led the organization to take over mine operations, improve performance and contractual certainty, perform overdue reclamation, and return millions of dollars to the Navajo Nation in both profit and community programs.
Having secured the future of the Navajo Mine, Mr. Moseley identified and executed upon opportunities to create multi-general solutions by responsibly expanding the company’s revenue base, allowing for investments in rare earth minerals, helium, and more.
"Throughout my career I have operated by a core principle, do the right thing. That is what we’ve done here," said Clark Moseley, outgoing CEO. "Developing and leading the NTEC team into the world-class energy company it is today has been one of the highest honors of my career."
Mr. Moseley officially retires on January 31st and the Board of Directors has appointed Vern Lund as the new CEO of NTEC. Mr. Lund brings over 25 years of diverse experience in mining and energy to his new leadership role at NTEC. For the past year he has worked closely with the NTEC team as the VP of Commercial and Operations.
"Over the past year, I have been impressed by the quality of the individuals working for NTEC and I am extremely excited to lead this group of high performing employees as we execute on our goals," said Vern Lund, Incoming CEO. "We will continue to drive excellence at our mines while aggressively pursuing diversification and growth opportunities not only for NTEC and our employees, but for the Navajo Nation and its people."
Mr. Lund will work closely with the NTEC Board and use his experience to continue the success of NTEC as an industry leader. He will focus on safety and profitability, while strengthening relationships with customers, industry partners, and the leadership of the Navajo Nation.
"I want to thank Clark and wish him all the best in retirement. Through his leadership and vision, Clark has secured the company and poised us for future success. As he departs, I am confident that the future of the company is bright with Mr. Lund at the helm," said Tim McLaughlin, Board Chairman.
NTEC is a single member limited liability company, organized under the laws of the Navajo Nation, that owns mines in New Mexico, Wyoming and Montana. Four core values guide NTEC: Do the right thing—Empower people and communities—Create multi-generational solutions—Operate a world-class energy company. NTEC is 100 percent owned by the Navajo Nation. For more information about NTEC, visit www.navenergy.com.
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