On April 24, 2014, Texas Gulf Energy, Incorporated executed an action by written consent of the stockholders of the company, which action was in lieu of an annual meeting of the stockholders of the company, electing the three individuals to serve on the Board of Directors of the company for a term expiring at the next annual meeting of the stockholders of the company, or until their earlier death, resignation or removal. Those individuals included Karim Ayed, who was an existing member of the Board of Directors of the company, and Rilene Burgess and Joseph E. Ghantous, who were not existing members of the Board of Directors of the company. On April 24, 2014, as a result of this action by the company's stockholders, the term of Craig Crawford, who had been serving as a member of the Board of Directors of the company, expired.

On April 24, 2014, the new Board of Directors of the company appointed Karim Ayed as Chairman of the Board, Rilene Burgess as President and Chief Executive Officer, and Maylene Guzman Santiago as Chief Financial Officer, Treasurer and Secretary. On April 24, 2014, as a result of this action by the Board of Directors, Craig Crawford, who had previously verbally tendered his resignation to the company, was terminated as Interim Chief Executive Officer of the company and John A. Haney was terminated as Chief Financial Officer of the company. Karim was appointed as a member of the Board of Directors of the company on October 15, 2012.

Joseph E. Ghantous has served as a Regional Sales Manager for BBA Aviation. Rilene Burgess has over three decades of experience in the Petrochemical Industrial Industry. Ms. Burgess joined International Plant Services, L.L.C. in 2006 as Manager of Client Relations, and served in that position until 2008.

Maylene Guzman Santiago served as Accounting Manager of International Plant Services, L.L.C. from 2006 until it became a wholly-owned subsidiary of the company in December 2011.