Ecolomondo appoints CEO, Sorella becomes Executive Chairman

Ecolomondo Corporation, a Canadian cleantech company that has developed thermal decomposition technology for recovering raw materials from scrap tyres, has appointed Gary Economo as Chief Executive Officer. Economo succeeds Eliot Sorella, who assumes the role of Executive Chairman while retaining his position as Chairman of the Board of Directors.

The company introduces Economo as an accomplished senior executive with a track record of achieving revenue, profit, and business growth objectives in startup, turnaround, and changing markets. He is a results-oriented and dynamic leader, with proven success in new market identification, corporate efficiency, and strategic positioning for multi-million-dollar private and publicly traded technology, advanced materials, and resource corporations. Gary Economo has raised substantial capital for companies and brings over four decades of experience in international finance, mergers, and acquisitions. He has a proven track record in driving profitability through innovation, productivity, revenue increases, and cost control. Additionally, he has served on several boards of TSX, TSXV, and CSE-listed companies.

Sorella to focus on global expansion

Eliot Sorella acquired Ecolomondo when it was still a cleantech R&D project in 2008, financed its development and commercialisation, listed it on the TSX Venture and OTCQB exchanges, and helped establish Ecolomondo as a global leader in its industry. As Executive Chairman, he will focus on the company’s global expansion while supporting the new CEO in corporate development and in achieving the company’s strategic objectives.

Concurrent with Gary Economo’s appointment and subject to the acceptance of the TSX Venture Exchange where applicable, the company announces the grant of 1,100,000 stock options at a price of $0.165. The options shall be exercised by the first anniversary of the appointment, and the options and their underlying common shares will be subject to a hold period of two years from the date of grant.