Koil Energy Solutions, Inc. announced the resignation of its CEO, Mr. Charles Njuguna due to a family health matter. Mr. Njuguna will stay on through March 31, 2024 and oversee the 2023 fiscal year-end audit and financial reporting. In connection with Mr. Njuguna?s resignation, Koil Energy?s Board of Directors appointed Mr. Erik Wiik to serve as its next Chief Executive Officer, effective April 1, 2024.

Mr. Wiik has been working with the Company as a consultant since September 2023. Mr. Wiik has more than three decades of experience in the energy industry, including extensive knowledge of subsea technology gained during his 24-year tenure with Aker Solutions.