SALT LAKE CITY (ABC 4 News) - A major shake up at the top of a Utah company sends its stock down.
Energy Solutions replaced both its chief executive officer and its chief financial officer.
Val Christensen is out as Energy Solutions CEO. "In" is David Lockwood, a representative of Energy Solution's largest stockholder and a member of board of directors. According to a company press statement, the board "determined that the time is right for new leadership, so that the company is positioned to take advantage of its full long-term potential in a changing industry environment." The statement also says Christensen will "remain a strategic advisor to the company."
Greg Wood also replaces William Benz as the chief financial officer of the company.
The news apparently did not sit well with stockholders. After the announcement Monday morning, Energy Solutions stock tumbled, closing down 54%.
Energy Solutions provides nuclear management services around the world and has a nuclear waste storage facility in Clive, Utah.