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Composite Technology International (CTI) Announces Departure of Shareholder and Board Member, Richard Brooks

PRESS RELEASE GlobeNewswire
Jan. 14, 2020, 10:31 AM

SACRAMENTO, Calif., Jan. 14, 2020 (GLOBE NEWSWIRE) -- Composite Technology International, Inc. (CTI or the Company) the nation’s leader in millwork products for building product manufacturers, distributors and retailers, announced today that Richard Brooks, its former Executive Vice President and Chief Financial Officer, will be retiring from his position as a member of the Board of Directors effective January 14, 2020. 

Mr. Brooks began consulting with CTI in 2005 and brought significant experience from his long background in finance and business and eventually moved into a full time role as Executive Vice President, Chief Financial Officer in 2011.  His influence and passion for the business assisted in the growth of CTI, now recognized as a global leader in manufacturing and distributing millwork products.  

While at CTI, Rich’s accomplishments included:  

  • Negotiating a solid credit line and restructuring company debt

  • Acquiring ownership interest in the Company and joining the Board of Directors
     
  • Negotiating and finalizing the acquisition of a major competitor
     
  • Assisting in the negotiation of three joint venture transactions in China which resulted in a stable group of new distribution customers as well as establishing exclusive, high quality manufacturing factories
     
  • Leading the transition of the Company’s operating hub in Hong Kong, including the structuring of legal, tax and finance strategies
     
  • Implementing a new bank line in Hong Kong, allowing for inventory financing in mainland China and other support needs

“Rich will truly be missed. His passion for the Company and our success has been greatly appreciated,” said Griff Reid, Founder and CEO.  Mr. Brooks plans to pursue his love of travel and photography.  

ABOUT COMPOSITE TECHNOLOGY INTERNATIONAL
CTI, headquartered in Sacramento, CA, is an environmental engineering and manufacturing company. With a “quality matters” focus, CTI designs, develops and delivers millwork products for building product manufacturers, distributors and retailers. They create the integral components needed for finished products such as mouldings, frames and jambs. For more information, please visit www.cti-web.com/. 

Contact:
Stacey Divine, CEO Infuze, LLC
stacey@infuzemarketing.com

Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
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