Episode Transcript
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Speaker 1 (00:00):
M and T Bank presents CEOs you should.
Speaker 2 (00:03):
Know, powered by iHeartMedia.
Speaker 1 (00:05):
Let's meet a Mere Wexler.
Speaker 3 (00:07):
He is the CEO for Centrist, a company that specializes
in nuclear fuel cycle, particularly uranium and richmond, and provides
related services for nuclear power plants. Before we talk more
about a Mere's company and what they exactly do, I
first asked him and talked a little bit about himself
where he's from in his origin.
Speaker 2 (00:24):
Story, I was born in the Belarus. My parents left
when I was really young. I spent most of my
formative years in Canada around the Toronto area high school, university,
and my early employment married at kids over there, So
a good portion of my life goes back to Canada.
(00:48):
In about two thousand and seven, we moved to the
United States. Became a US citizen about ten years ago,
and it's been wonderful living year. It's been wonderful enjoying
the everything you can enjoy here in the United States.
So my kids grow up here, and so that sort
(01:10):
of is the very very short, short version.
Speaker 3 (01:13):
Well you won't be surprised by this, but in this
series I talked to so many people that are originated
from different countries that have come to the US and
just done incredible work here and started companies or joined companies.
So you're just in another long lineage of people that
have been very successful coming from other countries, which we're
excited to talk about. I do want to talk about
your engineering background because it's always interesting because you've got
(01:34):
a really cool resume, and of course we'll talk a
lot about Centrist and what you've done there in the
short time that you've been there as CEO. But when
you were coming out of school in the University of Toronto,
I know you've got an engineering background, but what did
you want to do? What did you think the plan
in the path was going to be?
Speaker 2 (01:47):
Yeah, good question. I often reflect back to what was
really my goal coming out of the engineering school, and
in terms of a career and a job, I'm embarrassed
to tell you that all I wanted was just to
be an engineer for the rest of my working career. So,
you know, go out there for forty years, design things,
make things work, be proud of what I designed. But
(02:10):
I very quickly realized that there's a lot more to it,
and there's a lot more ways in which you can contribute,
can learn, challenge yourself. I have a lot of respect
for people that do engineering work, but I just very
quickly realized that my attention span is a little different
and my focus is a little different.
Speaker 3 (02:28):
No, that makes a lot of sense. And I did
to kind of talk about the resume, and I know
you've done a great stinted ge and some other really
great things. You've been a CEO before, and you've led
companies before. Talk to if you could give us just
a quick synopsis of some of the things that were
key in your development and your resume and different jobs
you did. And then, of course we're going to get
a lot into centrist but talk a little bit about
the things you've done in the past.
Speaker 2 (02:50):
So when I came out of school, I worked. I
mean the job market was awful. As you mentioned, I
graduated from the University of Toronto. It was really hard
to find the job back then. I remember most of
my friends that graduated with me, myself included. I mean,
we were looking for jobs for four to six eight months.
It was not uncommon. Finally I got a job in
(03:12):
a steel mill not far from Toronto, and it really
impacted how I looked at the world and sort of
the difficulties of the world out there just working in
a steel mill. I moved around a few companies as
an engineer, and then I started working for General Electric
for the nuclear business in the late nineties and I
(03:35):
stayed there for twenty years. So I really progressed through
many different plants and through different operations, from being sort
of like a nuclear engineer, nuclear fuel engineer, production engineer,
to management and then finally I was the chief executive
officer of the joint venture that General Electric had with
(03:58):
Etachi and anything has to do with fuel, nuclear fuel production.
So I've done that for for a number of years,
and then I was recruited to become a CEO of
one of our competitors, actually French owned Orono USA. I
spent there a few years, and then I was recruited
to come work for centrist Energy. And I've been in
(04:21):
this role for the past year and a half and
so as you can see, I have a long track
record in the nuclear industry, particularly nuclear fuel. It's a
lot more exciting than people realized. But this is my
third CEO role in the industry.
Speaker 3 (04:41):
Well let's talk about that. I mean, I think it's
a great segue because you were at a company for
a very long time. And while we have talked to
some leaders that have been at a company for a
couple of decades, they saw a great opportunity and they
wanted a new challenge, or maybe they even started their
own company. And you talked about going and being recruited
to another company. But I'm so cure because it sounded
like your path, especially the last decade, had gone very
(05:04):
well for you and your ascension. But as you were
being recruited by centrists, you know, I'm very curious about
to see why you wanted to join them. I can
see why they wanted to join with you and partner
up because of all the things that you bring to
the table. What interested you in joining this company and
running it?
Speaker 2 (05:20):
Let me give you a long answer. I kind of
viewed my career and I see that kind of parallels
and a lot of people's lives where you spent a
couple of decades just learning and practicing leadership, and I
honestly was fortunate enough to join the company where I
mean their entire you know, trade was producing leaders. So
(05:42):
the general electric of the nineties the early two thousands
is where I first became a manager. And it has
a pretty deep impact on me. Iman This was the
Jack Welsh era, and so those those twenty years were
very important in sort of establishing my ability to to lead,
understand leadership, and develop my style. I really to answer
(06:05):
your question more specifically, you get to a point where
you are valued greatly as the leader, particularly if you
can lead a large organization. If you understand business development,
if you understand you know finance, if you understand sales,
if you understand operations and post channel ectric. I got
to that point where I had the performance, the track record,
(06:28):
and I had sort of the portfolio, and it was
really a great match with with centrist because I've known
the company from from the nineties through its previous sort
of iterations under different names, and the attraction to me
was I have really gotten to a point in my
(06:50):
career where I wouldn't say that that money is the
biggest motivator, motivator behind what I do. I think I
would like to leave some form of a legacy, something
that other people would benefit from. And I just just generally,
(07:10):
since I came to the United States in the last
twenty years or so, we kind of live in a
bubble here in the large cities where we see a
high quality of life and a high standard of living,
but that's not the case I think in most of
sort of rural United States. I had a chance to
visit some of those places, those places used to be
(07:32):
industrialized that they got de industrialized over the last three decades.
And specifically to your question, what motivates me is I
think Centrist is at the cusp of building a huge
enterprise in some of these communities where you know, we
(07:53):
kind of ceded our leadership position in our field to others.
And it's really excited when the board approached me with
the opportunity to reindustrialize the company again, recommercialize it again,
and I think that will have a huge benefit to
the communities where we operate, and just generally the national
(08:13):
security of our country. It's a great way for me
to feel that I'm giving back to the place that's
been really good to me and place where my kids
grew up.
Speaker 3 (08:22):
Well, that makes a lot of sense, and I do
want to step back just for a second. We will
talk about mission vision and exactly what Centrist does, but
before that, something piqued my interest, Amir, and that was
about doing all those different jobs at GE. And I'll
give you an example. My daughter is a filmmaker in Brooklyn,
and when she was still in high school and then
in college, asking me, you know, I like to do this,
(08:42):
but what do you think. I said, well, that's great,
but you know, with being on a TV in a
movie set, do everything, do the lighting, do the blocking,
the audio. Make sure that when you become a dper
director someday you'll know what everybody else is doing and
that'll give you a peace of mind and also make
you a better leader. I would love for you to
talk about that, because it sounds like you did a
ton of different things at GE. Now you're leading companies,
(09:05):
but talk to the young people out there and me
are about making sure that you don't pigeon itself or
put yourself in a corner with just one job and
try and do it all well.
Speaker 2 (09:14):
Interesting that you shared your advice to your daughter. I
think I think it really parallels how I viewed the
world and the advice that I gave many young people.
I have noticed that I had an affinity to just
be in the place where all the crisis is at.
And so what I always tell people is is always
(09:35):
ask for the hardest job. Always ask for where the
bullets are fired. Don't be the guy that sits in headquarters.
Don't be the guy that has the safe job. I mean,
at some point in time you may get there in
your career, but I think the only way you learn
about leadership or even technical learning is if you give
(09:57):
yourself an opportunity to to fail, if you give yourself
an opportunity to really really stretch, and if you play
it safe all the time, that's just not going to happen.
I think you really have to take on the assignments
that look hopeless. And I've done that before. I failed
many times, but there were times that I succeeded and
(10:18):
those paid off a great deal.
Speaker 1 (10:19):
Yeah, I think it's great advice.
Speaker 3 (10:21):
You know, it goes back a very long way in
my industry and being in the media and TV and radio.
When I was working in college radio, I remember I
didn't have a lot of experience yet, and then somebody said, Hey,
we're doing this thing where you have to be on
stage and talk in front of ten thousand people. I said,
let's go, you know, right, So I threw myself right
into the fire right away. It's the best thing I
could have ever done. I got over my nerves very
(10:42):
quickly and realized I could do that. So that's wonderful advice,
and I'm glad that you shared that. All Right, I
buried the lead long enough. Let's talk about centrists before
we get into what you do. Why don't we talk
about mission and vision? What are those?
Speaker 2 (10:54):
All? Right? So, in order for it to be meaningful,
I realized that a lot of the audience don't really
have a lot of great background in the industry and
what we do. So maybe I'll just take a thirty
second detour and explain what we do, and then I'll
talk about vision and mission. About twenty percent of the
United States grid is powered by nuclear energy. In order
(11:17):
for the nuclear power plants to operate, they require enriched
uranium fuel. Really, the most complex part of making fuel,
and the most sort of key element of making fuel
is the enrichment part of it. I won't get into
a lot of technical discussion what it is, and I'm
sure people nowadays are hearing a lot about enrichment in
(11:40):
other countries and how it's used for other purposes. But
the enrichment that I'm referring to is the enrichment that
is used for commercial civil power, and without it, our
reactives would not be operating. So Centris actually goes way
back and has its roots almost that the Manhattan Project
(12:00):
then sort of the civil nuclear program that that you
know was sort of to follow it. And at some
point in time, our predecessors, the enrichment company that would
belonged to the United States government, used to provide most
of the enrichment to the nuclear power plants here in
the US and in Europe. And I mean the competitive
(12:21):
landscape has changed as such that you know, about ten
years ago or twelve years ago, we stopped enriching here
with the US capability, with the US technology, and our
company was sort of like a trader broker for for years.
And the market conditions are such now that we are
restarting our production capability here in the United States. So
(12:44):
we are now reclaiming sort of our position in the market.
We're reclaiming our energy independence because at this point in
time were greatly dependent on many other countries where we
get our enrichment from. And so which brings me to
to the division and the mission. I mean, really really
the mission for our company is to make our country
(13:08):
you know, energy and dependent again by having its own
capability to enrich for both civilian and national defense purposes.
And when I say national defense, I just want to
be clear, I'm not talking about bombs here. We're talking
about you know, naval reactors. We have, you know, reactors
that require nuclear fuel because they run on a nuclear
(13:32):
sort of energy. And you know, these are the kinds
of things that we feel very passionate and very you know,
motivated by because we can see a direct link between
what we do and how that enables the lifestyle, the
quality of life that we have in this country, and
how it enables our security posture here in the United States.
(13:52):
So our mission is to bring that independence and that
capability back to the United States with the US technology
and then division is is really and in a few
years for US to be employing thousands of employees in
both of our locations and Piked in Ohio and Bokerage, Tennessee,
(14:13):
and be producing the centrifuges and all the technology that
is associated with enrichment and actually providing that enrichment and
both here in the United States and be a net
exporter as well.
Speaker 3 (14:23):
All right, Well, I appreciate all the context, and you're
kind of talking about it right now. But if once again,
just for our listeners, if you could give a quick
layman synopsis, kind of a thirty thousand foot view about
what you do.
Speaker 1 (14:36):
What would you tell somebody we.
Speaker 2 (14:38):
Enriched the uranium that is required to power the nuclear reactors,
whether they're civilian nuclear reactors or military use nuclear reactors.
That really is sort of like a one sentence response
to your question.
Speaker 3 (14:53):
Understood, understood. Let's do this because I know you've mentioned
some other states and markets, and I did want to
ask you about how far the that has spread. And
then I would like to talk about the industry because
I've been I have just enough information in my area
of expertise, amir, in the news and sports world and
just reading stuff that nuclear power the narrative is coming back,
(15:13):
not only for the United States, but I think worldwide.
And you can discuss that about how we are for
other countries and how we do against them. But when
it comes to the net and how far you're spreading,
where you're at now, where you hope to be, what
are we looking at?
Speaker 1 (15:27):
What do you do?
Speaker 2 (15:28):
So right now, we're working closely with our investors. We're
doing a lot of capital raise to make sure that
we're positioned well for this growth. I mean, some of
this investment is in the billions. It's a huge investment.
And we're also working with the US government. The Congress
(15:52):
had really passed a law banning sort of the importation
of Russian and Richmond into the United States, and really
they have allocated over three billion dollars to establish a
domestic supply chain of enrichment. I mean, all of this
is done in recognition that we need to be energy
independent and we cannot depend on others. And so that
(16:14):
really is a main focus for US now is to
align our business case, aligned our capital raise and everything
else we can get to ensure that we are ready
for the expansion.
Speaker 3 (16:26):
All right, well, can you speak a little bit more
about nuclear power? And once again, I think when I
say those words of that phrasing, people might think of
three Mile Island because I know that's burned in their
memory and that's such a long time ago. I'm an
older guy, so I remember that. But as people hear
about nuclear power, they probably don't know much about it.
So if you could just maybe educate myself our listeners
(16:48):
about where we have been and where we're going with
it and what good it'll do out there, because I
think that's the most important thing. I think people need
an education about why we're doing it and how it's.
Speaker 2 (16:57):
Used right right. Just as a basic statement, nuclear energy
is an extremely concentrated form of energy. These nuclear power
plants generate a tremendous amount of energy and put tremendous
amount of electricity on the grid in a very reliable form.
(17:17):
I mean these things run like the capacity factor, meaning
the amount of time that the plant actually runs and
generates electricity that's in the mid to ninety percent. I mean,
this is the most reliable form of sort of baseload
energy on the grid. Now, people may say, well, who
cares about that? Well, of course, that's what provides you
(17:39):
your quality of life. The way I see it here
in the United States is first of all, that provides
you the ability to be a to manufacture things at
a reasonable cost. I mean, I'll tell you a little
story during COVID, when Ukraine was invaded and the Russians
were sort of starting to curtail some of their gas
(18:02):
shipments to Europe. I mean, we had suppliers in Europe
that were supposed to fabricate certain things. This is with
my previous employer. We're supposed to fabricate certain things from
I mean, these people would be shut down, that would
shut down their plant during the day and run it
only at night, just because they could not afford as
a manufacturer, to run their furnaces, to run their presses,
(18:25):
to run their equipment during the date the electricity was
so expensive. And so to tie the link between nuclear
energy and enabling the quality of life that we're familiar with,
I mean, it enables you to have reliable source of energy.
Anytime you turn on the alites, energy comes on. And
that's not a given in most of the parts of
(18:45):
the world. If you've traveled, you know that. And it
does that at a reasonable cost. And I mean, to me,
that is the biggest case for nuclear energy. And it's
been as you said, it's been reliable. It is safe.
I got a lot of stories around the safety and
the people that I worked with since I was in
my twenties. It is one of the safest industry there are.
(19:08):
I mean, I worked in the chemical industry before. I
can't tell you that I can compare the safety of
the two. And it's just a very regulated and safe industry.
Speaker 3 (19:17):
Well, I know, it's another great segue for us, because
I did want to talk about safety. You know, four
decades ago, when there were multiple accidents that happened, whether
it was in Russia or here in the United States.
I imagine, and you know this intimately, Amir, about all
the safeguards and new rules and regulations and just learning
over the last four decades how to make things safer.
(19:37):
Can you just talk in layman terms a little bit
about the safety now?
Speaker 2 (19:40):
Yeah, I mean you didn't bring up some past incidents
that the industry has learned a great deal, not only learned,
had upgraded a significant amount of their equipment, upgraded a
lot of the culture of the employees, a lot of
the processes procedures by which they're regulated. And so I mean,
(20:04):
if if you look across the industry right now, there
are four hundred and fifty some reactors operating around the world,
and they do so reliably and safely. And I mean,
I can tell you that we'll have absolutely zero hesitation
living across the street from a nuclear park plant. If
you talk to the people that do so, they feel
(20:25):
exactly the same way. So I think the industry had
learned a great deal. The industry is regulated very tightly,
and to make things even more interesting, some of these
new advanced reactors that are coming onto the market right now,
some of these designs have even an entirely different margin
(20:46):
for failure. So some of them you could have power
shut off to the reactor and they would not be
relying on some of the cooling that is required for
the light water reactors. I know I'm throwing a lot
of new arms at you, but all this to say
that some of these new advanced reactor designs that are
being worked on are inherently by design, are a different
(21:09):
level of safety than than than what we have already
designed for.
Speaker 3 (21:13):
And Emir, forgive my ignorance on this, but when it
comes to as you putting a plant somewhere, does it
have to be in a certain kind of landscape or region,
because I know you talked about certain states and cities
that you're in right now, But just for our educational purposes,
can you put a plant anywhere? How much space does
it take up? How many people work at one? Can
you give us kind of a little bit of an
(21:33):
education about that as well.
Speaker 2 (21:35):
Yes, So there's different licenses that the Nuclear Regulator Commission
gives out or you know that companies have. One of
them is a Part fifty license, which is to operate
a reactor. The other one is a Part seventy, which
is a nuclear fuel cycle facility. Now those are completely different, Well,
(21:57):
those are a reasonably different. One is to operate a
react the other one is to operate a facility that
produces the fuel got of that reacting. So yes, there's
certain special consideration with putting a large light water reactor,
but for nuclear fuel cycle facilities there's also I mean,
(22:17):
the regulator here does an incredible job and ensuring that
they lay out the expectations for the licensee. Nobody really
here is in the business of taking risks. Everything is
done in a methodical, calculated way. So to your question, yeah,
there's important considerations around seismic activity, around flooding, things of
(22:40):
that sort go into consideration when let's say we apply
for a license to build something somewhere. All of these
things are required to be considered by the licensee. They're
evaluated by the regulator, and I mean they take that seriously.
That process takes several years.
Speaker 3 (22:56):
Well, listen, if you could do me a favor, and
indulge me in our listeners. One of my favorite parts
of our series is that we get to talk about leadership.
And you know, you're so worldly because you were born
in one country, you moved to another one, and then
you were here in the United States with your family,
and that's a lot of change, and I think that's
part of leadership. You know, we talk about team and
culture and all the different things that go with being
(23:18):
a leader, but you've also had a lot of change.
And I always say to my daughter or anybody that
I'm talking to in my industry that's coming up, that
you have to buckle in for change because it happens
all the time and you've got to be ready to
go and not be stagnant. And with that said, I'd
love to ask you about leadership because you're obviously in
charge of over three hundred plus people just with your
company alone. That's not to mention the third parties that
(23:41):
you deal with and how you have to get your vision,
your message of yourself and the company. Can you just
talk a little bit about leadership, not only for the
current CEOs and presidents are listening, but the future leaders
out there about what you think leadership means and how
you've used it.
Speaker 2 (23:56):
Yeah. So, I mean there's a lot of people that
have made very nice living for writing books about leaders
and things you should you shouldn't do. In my mind,
there's a lot of art in addition to science to
being an effective leader. This is something that I still
learn and get feedback on every day. I think one
(24:17):
of the key elements is it is something that is practiced.
I think it is a lot more participative than directive.
And not to use bumper stickers here, but I think
it's important to understand that the longer you do it
in adverse conditions, through crisis, I think the better you
(24:39):
become at it. I think you learn more about people.
I think you learn more about how people react to
certain conditions, and I think that is a critical element
of being a leader. I think ultimately the truth task
of leadership is whether people follow you or not. And
I often use the example of let's say you're a
(25:00):
supervisor on the shop floor and your employees produce fifty
widgets a day, and you stand in front of them
and you say, I need you to produce seventy widgets
a day. Now, the real test is whether they're going
to walk away from that little huddle and say, well,
I'm going to break my back today, but I'm like, sure,
I'll give him what he wants. Are they going to
walk away and say, I ain't doing that? So now
(25:24):
the question is what kind of relationship you have with
with with your employees. Do you have an element of
trust at the end of the day. Are they going
to go and try to execute what you deliver as
a statement of mission or a vision.
Speaker 3 (25:41):
That's really good advice. And you know, the one other
takeaway in something that you're talking about there about the
floor manager and the widgets. And once again I've imparted
this to my daughter in her industry, she had to
start out as a PA, and you know everybody has
to start at the bottom usually, right, I mean we
all have, and it can be hard at time in
their long hours and people don't give you any eye
(26:02):
contact or acknowledge you. And I basically told her, if
you own that job, if somebody sees that you have
owned that job and you're doing with passion, you're going
to get opportunities to do things that you want to do.
And I think that's more to your point, right that
if you own whatever you no matter what it is,
if you own it and show the passion, you're probably
eventually going to be able to create your other own
(26:22):
opportunities that you do want to do.
Speaker 2 (26:23):
Yeah, and I will add one other thing that again,
I often say to people, I view probably the most
important part of my job is to be the promoter
of meritocracy in chief. In other words, and my view
there is that's probably the most important thing you have
to do as a leader declared as a CEO is
(26:46):
establish rules around what meritocracy means and how it's rewarded,
and obviously how you discourage people that don't strive for,
you know, meritocracy. I think it's critical to also understand
if you get into this situation as a leader where
(27:07):
people are rewarded, whether it's promotions or compensation on things
other than merit. I think that to me is sort
of the beginning of an end in an organization, at
least just from my observation. On the other hand, if
you really do a good job looking through the prism
of merit as you evaluate any individual, I see nothing
(27:31):
but upwards success for that organization. You know. One of
the things that I've learned early on in the jack
Wells General Electric is I mean a lot of people
and the company has changed a great deal. But the
reason why the company was so exceptionally good, in my observation,
is because there was a disproportionate focus and view that
(27:54):
was given to individuals and talent. It was like a religion,
and it was like, how good is this person? What
potential do they have? What is their next job? What
is their next challenge that they're going to be put in?
Or if somebody is evaluated for a job, well, what
have they done? How have they improved changed or how
(28:16):
have they led before? So there was a disproportionate view
on people and people's development and just general and aritocracy.
And I think organizations that do that just from observations
are extremely successful and the ones that compromise over these
very basics are typically struggled, particularly in the long run.
Speaker 3 (28:38):
Yeah, and to your point, the shortcuts don't always work.
So that makes a lot of sense and good words
to live by. Really appreciate that.
Speaker 1 (28:44):
Well, let's do this.
Speaker 3 (28:45):
I've enjoyed the conversation. I know you've got a great website.
I've been on it several times. It's easy to navigate,
there's a lot of information on there. I also know
the people that listen to the series want to know
if you're hiring the best of the best, so website
and possible careers A mirror the floor is yours.
Speaker 2 (29:00):
Yes, So we are in an expansion mode right now
and both of our facilities in Ohio and in Tennessee,
and we have a great deal of hiring going on.
Everything is on our website, and as you can tell
from this conversation, I'm passionate about having the best of
the best out there, and you will find that that
permeates through the organization and we would love to hear
(29:22):
from you.
Speaker 3 (29:23):
All right, let's give the UURL to everybody so they
can find it. Centristenergy dot com outstanding. Well Mere, thank
you so much for your valuable time. I really appreciate it.
Continued success your resume is really cool, but that I
can sense the passion.
Speaker 1 (29:38):
You have for the industry and what you're doing now.
Speaker 3 (29:40):
And I know that you're still in the very early
stages when you run a company and it's under two years.
There's so much more to do, but it sounds like
the future, especially in the United States and creating energy
for Americans is pretty exciting.
Speaker 1 (29:52):
In the future looks good. So thank you for.
Speaker 3 (29:54):
Your valuable time and I'm really glad that we could
feature you on CEOs you should Know.
Speaker 2 (29:57):
Excellent. Thank you.
Speaker 3 (29:58):
Our community partner, M and T Bank supports CEOs you
Should Know as part of their ongoing commitment to building
strong communities, and that starts by backing the businesses within them.
As a Bank for communities, M and T believes in
dedicating time, talent, and resources to help local businesses thrive
because when businesses succeed, our communities succeed.