Long-Time Atlantic Diving Supply Employee Promoted to CFO
JOHN DUNN WILL SERVE AS THE COMPANY’S CHIEF FINANCIAL OFFICER
VIRGINIA BEACH, VA. February 15, 2017 – Company officials announced the promotion of long-time employee, John Dunn, to the position of ADS, Inc.’s Chief Financial Officer earlier this week.
Dunn began his career with ADS as Corporate Controller in 2010, before being promoted to Vice President of Finance in 2013. He helped lead the company’s financing efforts over the past seven years and frequently represented ADS at investor conferences and lender meetings.
“I am excited to engage in this new chapter with the company,” said Dunn. “ADS is an amazing organization and I am extremely honored to serve as its CFO.”
During his tenure with the company, Dunn has worked closely with key vendors and customers in a way that has contributed to ADS’ success and ensured the company maintains the highest standards in financial reporting.
“With the company’s recent refinance of its senior secured notes complete, ADS has the necessary capital and is well-positioned for continued growth. John was a key part of that effort and I am confident he will continue to have a positive impact on ADS’ success as our CFO.”
ADS also announced this week that Karan Rai, the company’s current President and CFO, will be transitioning away from his involvement in the daily operations of ADS to focus fully on continuing his role as CEO of the company’s wholly-owned subsidiary, Theodor Wille Intertrade, GmbH.
“Karan has been instrumental in assisting the organization’s expansion into new markets and geographies globally with the acquisition of TWI,” said ADS Executive Chairman, Luke Hillier. “He guided the company through a critical capital markets refinancing and I look forward to his continued role in the growth of our new markets.”
In his role, Rai will be responsible for overseeing TWI, a global provider of integrated supply chain solutions to customers primarily operating in the United States European Command (EUCOM) and the United States Central Command (CENTCOM) regions.
“Over the past 12 months I was heavily focused on our capital markets refinancing process and ensuring post close success at TWI. During that time, Jason and John have been doing much of the heavy lifting in running ADS day to day,” Rai said. “The ADS platform continues to be in very capable hands with Jason and the rest of the management team and I look forward to taking on a more focused challenge of leading our growth platform at TWI.”