New Wave Media

August 4, 2020

Bennett Joins Kraken Board

(File image: Kraken Robotics)

(File image: Kraken Robotics)

Kraken Robotics Inc. announced that Cathy Bennett has joined the company’s board of directors.

Bennett brings more than 25 years of experience as an entrepreneur, business executive, and corporate director across private, public and non-profit entities. Her experience crosses multiple sectors including the government, energy, manufacturing, mining, restaurants, telecom, and technology sectors. Bennett was a Member of the House of Assembly of Newfoundland and Labrador from 2014 to 2018 as well as Minister of Finance and the Status of Women. A seasoned corporate director, Bennett holds an ICD.D designation from the Institute of Corporate Directors and currently sits on the Boards of Business Development Canada (BDC) and SheEO, a non-profit supporting and financing female innovators. Her previous public company Directorships include Bell Alliant and New Millenium Iron Corp.

“We welcome Cathy to our Board as a new independent director and look forward to the leadership she will bring,” said Karl Kenny, Kraken President and CEO. “We were looking to add expertise to the Board and Cathy brings extensive operational and strategic leadership across a breadth of sectors. We are thrilled to be welcoming her perspective during our period of rapid growth.”

Kraken Robotics is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, N.S.; Toronto, Ont.; Bremen and Rostock, Germany; and Boston, Mass.

“I am excited to join Kraken as the market for marine robotics is on a strong growth curve,” Bennett said. “The Kraken team has put together an impressive array of industry leading products and formed significant partnerships to propel the company forward. I look forward to contributing to the ongoing development and execution of the company’s strategy.”

The board of directors has approved the issuance of 300,000 options to Bennett. These options have an exercise price of $0.51 and have a three-year term.

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