OVERLAND PARK, KS – June 30, 2017 – Tyr Energy, Inc. (“Tyr”), a subsidiary of ITOCHU Corporation, announced today that its Board of Directors has appointed Garrick “Garry” Venteicher, currently CFO for Tyr, to become President and CEO effective August 1. Mr. Venteicher will remain a member of the Tyr Board of Directors. Mr. Venteicher has contributed to Tyr Energy’s growth since 2003, including key roles in business development and asset management activities and the cultivation of new and enduring relationships with Tyr’s business partners.
The current Tyr CEO, Tomoo Yokobori, is returning to Japan to take a strategic role in the ITOCHU corporate office. “This is the time for Garry Venteicher to take over as CEO” said Mr. Yokobori. “While I have enjoyed my four years working with business partners and colleagues as Tyr CEO, it is time for Tyr to take another step in its growth. Garry is the most qualified to lead that growth and to transform the company to the next level of excellence.”
Mr. Venteicher added “Throughout this transition, Tyr will remain a committed owner of IPP businesses. Tyr will continue with its disciplined approach, focusing on target markets, customers and assets consistent with our growth strategy. I look forward to the opportunities ahead.”
Tyr is celebrating its 15th year in business, starting as an asset manager of power plant assets for financial investors in Independent Power Producer (IPP) companies and eventually shifting its strategy to focus on investment in and development of IPP assets.
Tyr represents the North American cornerstone of the ITOCHU Corporation global IPP strategy. Over the years, Tyr has invested in well over 20 IPP projects and currently holds interests in 15 operating projects plus others in development. Tyr is actively seeking new investment opportunities. Tyr has continued to provide asset management services to many of the projects in which it holds an investment interest, often in tandem with its affiliate NAES that provides operations and maintenance (O&M) services throughout the industry. More information about Tyr is available at http://www.tyrenergy.com/.