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Note 12 - Subsequent Events
3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 12 - SUBSEQUENT EVENTS

 

In April 2022, the Company re-aligned its corporate management structure, which involved a reduction in headcount and labor costs of approximately 25%. The new organization reflects a focused effort to align key leaders with strategic imperatives, inspire greater accountability and performance management, eliminate silos and layers of middle management, and operate a leaner, more efficient business.

 

On May 11, 2022, the Company entered into a separation and release agreement with Sune Mathiesen, the Company’s Chief Executive Officer (“CEO”). Mr. Mathiesen had previously taken a medical leave of absence announced in March 2022. LiqTech has retained Heidrick & Struggles, a leading international executive search firm, to assist the Company in a search for a new, permanent CEO. The Company’s current Interim Chief Executive Officer, Alexander J. Buehler, has agreed to maintain the position of Interim CEO for the foreseeable future until a permanent candidate is identified and a proper transition is conducted.