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Lehi—Young Living Essential Oils, the world leader in essential oils, announced the promotion of Mary Young as its new Chief Executive Officer. Gary Young has voluntarily resigned as CEO so that he can pursue his many interests, entrusting his wife to lead the future growth of the company. Mary’s vast background in network marketing and her love for the industry, make this an exciting opportunity for her. Mary’s experience as a distributor for 10 years and her 20 years as a corporate executive have prepared her for this new opportunity with Young Living. Gary looks forward to continuing his life’s work in wellness and having more time to focus on writing books and sharing his extensive knowledge of essential oils with the world. He will also continue to focus his time and energy on his family, philanthropic and civic initiatives including global peace, world health, and community giving.
South Jordan—Pioneer Oil and Gas announced Wednesday the retirement of Don J. Colton as President, Treasurer and Chairman of the Board of Directors of Pioneer Oil and Gas. He will remain on the Board of Directors. Gregg B. Colton will replace him as Chairman of the Board, President and Treasurer of the Company. A. Franklin Adams will replace Gregg B. Colton as Secretary of the Company. The Pioneer Employee Stock Ownership Plan (ESOP) will purchase Don Colton's 993,579 shares in the ESOP plan for $1.00 per share. This is the same price as the company's 2012 tender offer and the same price paid by the Plan for recent larger purchases of shares (over 200,000 shares). Purchases by the ESOP are funded from loans by the company. Since Colton's retirement is voluntary no severance payments will be made. The company also announced that salaries of all remaining company personnel will be cut by 40 percent. The net effect of Mr. Don Colton's retirement and the salary reductions will have a net positive effect on cash flow over a two year period.
Salt Lake City—Celtic Bank is pleased to announce that Dana T. McGill has been hired as Vice President of Business Development in the bank's SBA and Commercial Lending Department. McGill's primary responsibility will be to increase the bank's SBA loan production in the Greater New York area. She will be based in Hoboken, New Jersey. Before joining Celtic Bank, McGill was a Senior Manager at AIG in New York City where she worked on the CCAR Central Reporting Team whose focus was on developing and implementing a robust Comprehensive Capital Analysis & Review (CCAR) process for the company. Prior to AIG, McGill worked in Global Treasury at American Express where her primary role was supporting the funding, liquidity, capital and asset/liability management needs for American Express Bank, FSB and Centurion Bank. In 2012, she was named a CFO Pinnacle Award Winner by the American Express Global Finance organization. McGill holds a Bachelor's degree in Finance and Economics from Utah State University and an MBA from Westminster College.
Salt Lake City—Benjamin P. Harmon is the newest shareholder at the law firm of Callister Nebeker & McCullough. Harmon focuses his practice on management-side labor and employment law, complex commercial litigation, and creditors’ rights. He has been named a “Rising Star” for the past two years by Mountain States Super Lawyers. Harmon received his law degree from the S.J. Quinney College of Law at the University of Utah, and has been with the firm since 2009.
In addition, John B. Lindsay was elected and Brian W. Burnett was re-elected to serve on the board of directors of the law firm of Callister Nebeker & McCullough. Lindsay replaces Carolyn Montgomery, who served on the board from 2012 – 2015. He is practice chair of the firm’s Real Estate Section, and focuses his practice on the representation of lenders in affordable housing and commercial real estate transactions. Lindsay was recently honored as the 2015 Real Estate Attorney of the Year by the Certified Commercial Investment Member (CCIM) institute. Burnett focuses his law practice on energy, natural resources and environmental law matters for clients before federal, state and local agencies, and governmental entities. His practice also include telecommunications, water, property and contract law, and related litigation. Burnett also serves on the leadership committee of And Justice For All.
Cottonwood Heights—Dynatronics Corporation, a manufacturer and marketer of rehabilitation and physical therapy products, announced Wednesday the appointments of Erin Enright and Brian Larkin to its board of directors. This expansion of the board of directors was contemplated as part of the recent investment in Dynatronics led by Prettybrook Partners that closed on June 30, 2015. Enright has held numerous positions in the healthcare industry over her career, including CEO of Lee Medical, a privately held medical device company, CFO of InfuSystem Holdings Inc., managing partner of Prettybrook Partners, LLC, and a former board member of Biolase, Inc. Previously, she was a managing director in the equity capital markets group at Citibank, where she worked for over a decade. She received her A.B. degree from Princeton University and J.D. degree from the University of Chicago. Since May 2015, Larkin has been the Senior Vice President and General Manager for the Regenerative Medicine business at Acelity L.P., Inc. Prior to joining Acelity, Mr. Larkin was Corporate Vice President of Integra Lifesciences Holdings Corporation and President — Global Spine and Orthobiologics, and Head of Strategic Development of Integra. Mr. Larkin has over 24 years of sales, marketing, and executive management experience in the medical technology industry. Prior to joining Integra, he was the National Sales Manager for Connell Neurosurgical. Mr. Larkin received a B.S. degree in Chemistry from the University of Richmond, and completed the Advanced Management Program at Harvard Business School.