UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. |
On November 11, 2022, Tetra Tech, Inc. (the “Company”) announced that Christiana Obiaya has been appointed to the Board of Directors of the Company (the “Board”), effective January 2, 2023, to serve until the next Annual Meeting of Stockholders or until her successor has been duly chosen and qualified. The Board will consist of nine members, including Ms. Obiaya, at that time. She will serve as a member of the Audit Committee and Strategic Planning and Enterprise Risk Committee.
Ms. Obiaya, 40, has been Chief Financial Officer of Heliogen, a renewable energy technology company that uses AI-enabled solar technology to support the clean energy transition, since December 2021. She also serves as Head of Heliogen's Executive Committee.
From 2017 to 2021, Ms. Obiaya served as Chief Financial Officer and head of strategy for Bechtel’s multi-billion-dollar, global Energy business unit. She also held various leadership roles at Bechtel in finance; strategy; and project development, investment, and execution from 2010 to 2017. Prior to joining Bechtel, Ms. Obiaya worked on renewable energy projects supporting energy access for rural communities in Kenya and India from 2008 to 2009. She began her career as an engineer at a multinational consumer goods company from 2004 to 2008, designing products and scaling up manufacturing processes. Ms. Obiaya holds a Master of Business Administration and a Bachelor of Science in Chemical Engineering from the Massachusetts Institute of Technology.
Ms. Obiaya will receive compensation for her service as a non-employee director in accordance with the Company’s non-employee director compensation program. Under this program, Ms. Obiaya will receive (1) an annual retainer of $100,000; (2) $2,000 for each meeting attended, when the number of Board meetings during the year has exceeded eight; and (3) an annual long-term equity award with a grant date fair value of $150,000, consisting sixty percent of performance stock units and forty percent of restricted stock units, each pro-rated for the portion of time that she is expected to serve as a director of the Company before the next annual award.
| Item 8.01. | Other Events. |
On November 15, 2022, the Company issued a press release announcing the matter described in Item 5.02. A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| 99.1 | Press Release, dated November 15, 2022. | |
| 104 | Cover Page Interactive Data File (embedded with the inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TETRA TECH, INC. | ||
| Date: November 15, 2022 | By: | /s/ Dan L. Batrack |
| Dan L. Batrack | ||
| Chairman and Chief Executive Officer | ||
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Exhibit 99.1
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| NEWS RELEASE | |
| November 15, 2022 |
Tetra Tech Appoints Christiana Obiaya as New Board Member
Pasadena, California. Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services in water, environment, sustainable infrastructure, and renewable energy, announced today that the Board of Directors has appointed Christiana Obiaya as its newest Board Member. Ms. Obiaya joins the Board effective January 2, 2023, and will serve on the Audit and Strategic Planning and Enterprise Risk Committees.
Ms. Obiaya brings to Tetra Tech’s Board approximately 20 years of experience in strategy, finance, and project management focused on energy and infrastructure development and sustainable technologies. She is Chief Financial Officer of Heliogen, a renewable energy technology company that uses AI-enabled solar technology to support the clean energy transition. She also serves as Head of Heliogen's Executive Committee.
From 2017 to 2021, Ms. Obiaya served as Chief Financial Officer and head of strategy for Bechtel’s multi-billion-dollar, global Energy business unit. She also held various leadership roles at Bechtel in finance; strategy; and project development, investment, and execution from 2010 to 2017. Prior to joining Bechtel, Ms. Obiaya worked on renewable energy projects supporting energy access for rural communities in Kenya and India from 2008 to 2009. She began her career as an engineer at a multinational consumer goods company from 2004 to 2008, designing products and scaling up manufacturing processes.
“Tetra Tech is pleased to welcome Ms. Obiaya, who brings extraordinary experience in finance, strategy, and renewable energy project development,” said Dan Batrack, Tetra Tech Chairman and CEO. “Her combined expertise affords her unique insight into the critical role of our project managers and technical experts in creating technology-enabled solutions that support our clients’ long-term sustainability and decarbonization goals.”
Ms. Obiaya holds a Master of Business Administration and a Bachelor of Science in Chemical Engineering from the Massachusetts Institute of Technology.
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex water, environment, sustainable infrastructure, renewable energy, and international development problems. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.
CONTACTS:
Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
(626) 470-2844
Any statements made in this release that are not based on historical facts are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.