CEO of Retail Supplier Parent Steps Down Due to Medical Issue, Replacement Sought

Aspirity Holdings LLC, the parent of Aspirity Energy, announced that Mark A. Cohn has resigned as President, Chief Executive Officer and Director of the company and each of its subsidiaries.

Aspirity said that Cohn just became aware of a medical condition that will prevent him from devoting his full-time efforts to the company.

Aspirity's Board of Directors appointed Timothy S. Krieger, the founder of the company and its principal equity owner, as interim CEO, with the goal of hiring a new CEO within the next 30-60 days.

Krieger said, "We wish Mark all the best and will keep him in our prayers. Mark is an excellent businessman, whose vision and efforts are largely responsible for creating Aspirity and giving it its focus. We know Mark will want us to keep the Company moving forward and we are prepared to do that."

Krieger previously served as the company’s Chief Executive Officer prior to its restructuring in 2015 for a period of more than five years.

Concerning the company's outlook, Krieger stated: "While it was an unfortunate turn of events that brought me to my new role as Interim CEO, I intend to devote my full-time efforts to the Company until a new replacement CEO can be found. I am confident that the Company will have more than 30,000 customers by the end of the year, which will provide a solid foundation for future growth. I have recently invested another $500,000 in the Company and I am committed to providing the resources the Company needs to attain its year-end customer goal. Although customer growth has been constrained by the delays the Company has experienced in getting licensed in all the areas it targeted, we expect to double our base of potential customers, expanding by approximately 10,000,000 by this Fall. Using the marketing methods the Company has already validated as capable of producing new customers, the entire management team believes the 30,000 customer goal is well within reach."