TAMPA, Fla., June 25, 2012 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (OTCBB: MNGA.OB - News), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today the appointment of Jacques D. Kerrest, and Kevin A. Pollack, Esq., to its board of directors and audit committee, effective immediately. Their appointments bring the number of MagneGas board members to seven.
"Jacques and Kevin have impressive track records of helping rapidly growing businesses reach their full potential. We're excited to have them join the MagneGas board at a pivotal time in the Company's development," said MagneGas CEO Ermanno Santilli. "Jacques' experience as the CFO of several public companies will be invaluable as we continue to expand our operations while Kevin's legal and investment background will be instrumental in ensuring that we generate value for our shareholders."
Mr. Kerrest serves on the board of Elephant Talk Communications Corp., a NYSE-listed international provider of mobile networking software and services. Previously, he served on the board of CKX, Inc., a media and entertainment content company that was sold to Apollo Management in 2011. From 2008 to 2010, Mr. Kerrest acted as CFO and COO of NASDAQ-listed ActivIdentity, a leader in identity assurance and authentication solutions, where he helped navigate the company's turnaround and sale. From 2004 to 2008, Mr. Kerrest was CFO of NASDAQ-listed Virgin Media, the second largest communications company in the U.K. where he negotiated, executed and financed a merger with the second largest U.K. cable company and contributed to the acquisition of Virgin Mobile. Prior to Virgin Media, he served as CFO of NYSE-listed Equant, Inc., a global enterprise communications infrastructure company, and NYSE-listed Harte-Hanks, Inc., a direct marketing and publishing company. Mr. Kerrest received his M.B.A. from the Thunderbird Graduate School of International Management.