Purecycle Technologies Shares Slide On Leadership Changes Announcement

• Purecycle Technologies Inc (NASDAQ: PCT) has promoted Dustin Olson, current Chief Operating Officer and Chief Manufacturing Officer, to the role of CEO, along with becoming a member of the board, effective August 5, 2022.

• Mr. Olson succeeds Mike Otworth, who will resign to return to Innventure, a company he helped found.

• Dustin Olson has been with Purecycle since 2021, leading manufacturing and operations. He has over 20 years of plastics, petrochemical, and refining experience in the United States, Europe, and China.

• Dan Coombs, a current member of Purecycle's Board of Directors, will be appointed to the newly formed post of Executive Chairman of the Board of Directors following Mike's departure.

• Price Action: PCT shares are trading lower by 2.29% at $7.25 during the post-market session on Thursday.

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