3 Facts about the Youngest Black CEO of a Publicly Traded Company

Joel Gay is the President and CEO of Energy Recovery or ERII, a publicly traded company that develops technologies to create the most efficient energy recovery solutions. This company recycles wasted pressure energy and converts it into usable material for oil, gas, and water industries.

What makes Gay exceptionally special is that at 38 years old, he has achieved professional success in the corporate industry and is the only 10th black businessman to do so.

Here are some things you need to know about Gay.

  • According to the Executive Leadership Council, an organization for black business leaders, Gay is highly recognized as the current youngest black CEO of a publicly traded company. However, he may not be the youngest of all time.

At 23 years old, Ephren Taylor II became the youngest CEO of City Capital Corporation but was convicted and sent to prison for 20 years. He was indicted due to a $16 million Ponzi scheme.

  • Gay is currently focused on managing Energy Recovery and keeping it as is the market leader in pressure energy technology. The California-based company went public in 2008. Although it doesn’t do drilling, the company plays a significant role in the oil and gas industries.

They manufacture equipment for big energy companies that drill. One of their products called the VorTeq, is a hydraulic pumping system that reroutes the chemicals and sand to make the process cleaner and more efficient. Energy Recovery sealed a 15-year exclusive deal with Dutch oil giant, Schlumberger, to utilize the VorTeq.  

Gay sees this partnership as a huge achievement for the company. This CEO definitely has his hands full in the next couple of years.

  • In 2012, he joined Energy Recovery and became the CFO after 2 years. He also acted as the Head of Strategy before he made his way to the top.

Before working for the Energy Recovery, he was the CFO at Aegion (AEGN) and handled its North America division. He was also a Strategic Advisor to the CEO. His position allowed him to diversify the company into oil and gas through acquisitions.

Gay earned his MBA from the University of Chicago School of Business and graduated with a BA from St. Thomas University. He was named by Fortune Magazine as one of the most influential business leaders in a global scale under the age of 40.

Read the original story via Yahoo Finance.

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