IKONICS Corporation (Nasdaq: IKNX) has announced that William C. Ulland, president, CEO and chairman of the Board of Directors, will retire as president and CEO effective Feb. 10.
Board members have elected Glenn Sandgren to succeed him. Ulland will continue in his role as chairman of the board. Sandgren will also serve on the company’s board.
“I am extremely proud of how IKONICS has evolved as a leading imaging technology company, and I’m very confident that IKONICS will deliver sustained profitable growth into the future,” said Ulland. “I am also excited that Glenn will become our company’s next CEO. Glenn has a track record of building great teams and growing business. I am incredibly excited to watch Glenn lead IKONICS into our next era of growth.”
“We thank Bill for his exceptional contributions over the course of his 19 year career as the CEO and President of IKONICS and his 43 years as Chairman of the Board. The Company has grown and evolved under his leadership,” said Sandgren. “Today, the business continues to gain market share and the quality of the people and products are unmatched. I am honored to lead this Company into the future.”
Prior to joining IKONICS, Sandgren was the president of Pallidus, responsible for overseeing the expansion of its silicon carbide crystal production facility and driving technology and business development. Previously, Sandgren served as the vice president of Silicon Carbide Products for Melior Innovations, vice president and business unit manager for Polysciences, Inc., and held senior positions with Owens Corning and GE Plastics. His 30 years’ experience leading materials innovation and growth organizations in key markets make him ideally suited to IKONICS, the Duluth-based company said in a news release. Sandgren has a Mechanical Engineering degree from Purdue and an MBA from Central Michigan University.