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Posted 30 November, 2021

Taronis Fuels, Inc. appointed Jered Ruyle as new CEO

OTC:TRNF appointed new Chief Executive Officer Jered Ruyle in a 8-K filed on 30 November, 2021.


  On November 30, 2021, the Board appointed Jered Ruyle as interim President and Chief Executive Officer of the Company, effective upon Mr. Foti's resignation.  

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Overview of Taronis Fuels, Inc.
Companies on the Energy Service • Oil & Gas Products/Services
Taronis Fuels, Inc. sells and distributes industrial gases and welding equipment, and provides services to the retail and wholesale metalworking and manufacturing industries through its subsidiaries. It also creates, sells, and distributes MagneGas, a synthetic gas used as an alternative product substitute for existing fossil fuel-based metal cutting fuels, such as acetylene and propane. The company was founded on February 1, 2017 and is headquartered in Phoenix, AZ.
Market Cap
N/A
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Taronis Fuels, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On November 23, 2021, Kevin Foti notified the Board of Directors (the "Board") of Taronis Fuels, Inc. (the "Company") of his resignation as the Company's President and Chief Executive Officer and as a member of the Board, effective as of the close of business on December 10, 2021. Mr. Foti's resignation was not because of any disagreement with the Company on any matter related to the Company's operations, policies or practices.


On November 30, 2021, the Board appointed Jered Ruyle as interim President and Chief Executive Officer of the Company, effective upon Mr. Foti's resignation. Mr. Ruyle, 35, has served as an Executive Vice President of the Company since January 2020, and previously served as a sales representative for the Company. Mr. Ruyle has more than 14 years of experience in the packaged gas industry. Prior to joining the Company, Mr. Ruyle held key positions with his family's multi-generational business in the packaged gas industry. He has experience in fill plant operations, management of logistics teams and sales teams, and was the President of an independent packaged gas distributor. Mr. Ruyle obtained his Bachelor's degree in Business administration from the University of Texas at Tyler.


There are no family relationships between Mr. Ruyle and any of the Company's directors or executive officers. There have been no related party transactions involving Mr. Ruyle (or any of his immediate family members) required to be disclosed pursuant to Item 404(a) of Regulation S-K, other than (i) Mr. Ruyle and his father purchased an aggregate of 66,668 shares of common stock from the Company in a private placement closing on June 4, 2021 for an aggregate purchase price of $200,004, and (ii) following the Company's acquisition of the Ruyle family's packaged gas business in 2018, Mr. Ruyle's father and brother have been employed by the Company and several members of the Ruyle family directly or indirectly lease properties to the Company. Mr. Ruyle will enter into the Company's standard form of indemnification agreement. The Board has not yet made a determination as to Mr. Ruyle's compensation for his service as the Company's interim President and Chief Executive Officer.