Profire Energy announces executive changes

Profire Energy Inc., a technology company in the oil and gas industry based in Lindon, has announced several changes in its executive leadership. Current chief financial officer Ryan W. Oviatt and Cameron M. Tidball, current chief business development officer, have been named co-CEOs and co-presidents of the company. 

The new leaders were named as Brenton W. Hatch is leaving his post as CEO to become executive chairman of the board for a period of 12 months, after which he will become an special advisor to the executive committee and chairman of the board of Profire. All changes became effective on July 2.

“On behalf of myself and the board of directors, we are pleased to select both Ryan and Cameron as co-CEOs of Profire moving forward,” said Hatch. “Both Ryan and Cameron have served alongside me for many years and have been groomed for this exact opportunity. I am confident that together they will continue to position Profire for growth in support of our customers and our employees, while continuing to drive shareholder value for decades to come.

“Having served over 18 years as CEO after co-founding Profire in 2002, I feel this is the right time for a leadership transition,” Hatch continued. “ I remain confident and vested in the long-term success of Profire by continuing as chairman of the board and remaining the largest individual shareholder. Playing a smaller role on the management team will finally allow me to spend more time with my 21 grandchildren and now my very first great-grandchild.  It has been my honor and privilege to serve this great company, our employees and our shareholders.”

“Since joining Profire five years ago, I have built an excellent working relationship with both Brent and Cameron,” said Oviatt. “I look forward to Brent’s continued guidance and industry knowledge as we continue to lead Profire in the future. The company’s guiding principles of fiscal conservatism and investments in new and emerging technology remain unchanged.  It is an honor to follow in Brent’s footsteps and a pleasure to do so with Cameron.”

“Brent has served as a mentor to me for the past 10 years, and I look forward to him continuing to serve as executive chairman as we assume our new positions within the organization,” said Tidball. “Over the past five years, Ryan and I have collaborated on multiple internal projects, strategic management decisions, M&A opportunities, as well as investor communications and functions.”

Oviatt joined the company as CFO in 2015 and has served as a director since October 2018. Previously, Oviatt was a senior manager at Rio Tinto. Prior to Rio Tinto, he was an audit manager at Ernst & Young. Oviatt received his bachelor’s degree in accounting from Westminster College and master’s degree in accountancy from Brigham Young University.

Tidball joined Profire in 2010 as a regional sales manager. He became vice president of sales and marketing in 2012 and was named chief business development officer in 2018. He earned a bachelor of commerce degree in marketing and management science from the University of Alberta and a technical diploma in engineering design from the Northern Alberta Institute of Technology.