Thread Adds Longtime Utility Executive Kevin Moug to Its Board of Directors

GRAND FORKS, N.D., June 25, 2024 /PRNewswire/ -- Thread, the leader in digital-first asset inspection catering to the energy and utility sectors, is excited to announce the appointment of Kevin Moug to its Board of Directors. Kevin brings an impressive 42 years of experience in public accounting, utilities, and manufacturing, and recently retired as the Chief Financial Officer and Senior Vice President of Otter Tail Corporation.

Otter Tail Corporation has interests in diversified operations including an electric utility and manufacturing business. The electric utility, Otter Tail Power Company, provides electric generation, transmission, and distribution to approximately 133,700 customers in 422 communities across 70,000 square miles in Minnesota, North Dakota, and South Dakota.

During his tenure at Otter Tail Corporation, Kevin demonstrated exceptional leadership and strategic planning skills. His functional experience covers strategic planning, mergers and acquisitions, treasury, internal audit, financial planning & analysis, investor relations, external reporting, risk management, and information technology.

"We are thrilled to welcome Kevin to our Board of Directors," said Joshua Riedy, CEO of Thread. "His extensive executive experience and leadership in the utilities and manufacturing sectors will be instrumental in guiding Thread's strategic initiatives and driving our mission to provide innovative solutions that enhance asset management and financial performance."

Thread is dedicated to enhancing network inventory and asset health through innovative software solutions. This transformation optimizes financial management and strengthens infrastructure resilience.

Kevin's proven track record in mergers and acquisitions, portfolio development, and investor relations will play a crucial role in Thread's growth strategy. His ability to cultivate long-term relationships and his sound business judgment will help Thread navigate the complexities of the market and deliver on our commitment to helping utilities modernize infrastructure inspections and asset management.

As Thread continues to grow and evolve, Kevin's addition to its Board of Directors underscores the company's commitment to excellence and innovation.

About Thread: Thread is a leading private company in digital-first asset inspection, catering to the energy and utility sectors. Their flagship product, UNITI Workspace, leverages advanced data management to automate and streamline inspection workflows. The system captures and contextualizes data on-site, processing it through a cloud-based platform to generate real-time, actionable insights. This enables clients to enhance operational efficiency and decision-making for asset maintenance significantly. Thread's technology reduces inspection times from days to hours, offering a comprehensive solution for managing critical infrastructure assets.

For more information, please visit Thread's Website.

Contact: JP Pollock, VP Sales & Marketing
Thread
[email protected]

SOURCE Thread