Canadian marine robotics company Kraken Robotics has recently announced the appointment of Peter A. Hunter to its Board of Directors. Hunter will be taking over the position formerly held by Larry Puddister, who has decided to resign in order to focus on his other business ventures.
With an extensive background in the industry, Hunter brings a wealth of experience and expertise to Kraken Robotics. He is the founder, Chairman, and Managing Partner of Artemis Capital Partners, L.P., a specialized private equity firm based in Boston that focuses on differentiated industrial technology manufacturers.
Furthermore, Hunter’s knowledge of subsea technology is a valuable asset to Kraken. He served as the Chairman of Hydroid, LLC for three years, a company specializing in unmanned underwater vehicles (UUVs) with its well-known REMUS UUV brand. Under Hunter’s leadership, Hydroid experienced significant growth and success, eventually being acquired by Kongsberg Maritime, AS in 2008. Hydroid was later acquired by Huntington Ingalls in 2020.
Kraken Robotics expressed its enthusiasm in welcoming Peter Hunter to the Board of Directors. Greg Reid, Kraken’s President, CEO, and Director, highlighted Hunter’s strategic, governance, financial, and operational experience, as well as his extensive knowledge of the subsea industry. It is expected that Hunter’s contributions will bring significant value to the company.
In recognition of his appointment, Kraken Robotics awarded Hunter 400,000 stock options. These options have a five-year term and will vest in three equal installments over the course of the next three years. Each option is exercisable for one common share at an exercise price of $0.495.
Kraken Robotics continues to strengthen its leadership team with the addition of Peter A. Hunter. His appointment reflects the company’s commitment to innovation and growth in the marine robotics industry, and positions them for future success.
Who is Peter A. Hunter?
Peter A. Hunter is the founder, Chairman, and Managing Partner of Artemis Capital Partners, L.P., a specialized private equity firm focused on differentiated industrial technology manufacturers. He also served as the Chairman of Hydroid, LLC, a company specializing in unmanned underwater vehicles (UUVs).
What is Kraken Robotics?
Kraken Robotics is a Canadian marine robotics company that specializes in the development and manufacture of advanced underwater sensors, payloads, software, and robotics systems.
Who did Peter Hunter replace in Kraken Robotics?
Peter A. Hunter replaced Larry Puddister on the Board of Directors of Kraken Robotics. Larry Puddister resigned from his position to focus on his other business interests.
What are the terms of Peter Hunter’s stock options?
The stock options awarded to Peter Hunter have a five-year term and will vest in three equal installments on the date of grant and on the one and two-year anniversaries of the date of grant. Each option is exercisable for one common share at an exercise price of $0.495.