3.2.2005: Meldung: Active Power, Inc.: New Chief Financial Officer
Wednesday February 2, 6:45 am ET
AUSTIN, Texas--Feb. 2, 2005--Active Power, Inc. (NASDAQ: ACPW - News) today announced it has hired John Penver as its Chief Financial Officer, effective February 28th. Mr. Penver will succeed Dave Gino, who will remain the company"s CFO through the filing of its annual report on Form 10-K.
Mr. Penver is a seasoned financial executive with 22 years of experience in public company financial management and reporting. He joins Active Power from PerformanceRetail, a private software solutions company in Austin, Texas, where he served as CFO. Penver"s prior experience includes serving as the Vice President of Finance and Senior Financial Officer at a publicly traded manufacturing company, Silicon Gaming, Inc. Prior to Silicon Gaming, Penver was a Senior Audit Manager at Deloitte & Touche, where he completed numerous public stock offerings and worked closely with several manufacturing-based companies such as General Motors and Hitachi.
"We are very pleased to have John join our team," said Joe Pinkerton, Chairman and CEO of Active Power. "He brings a tremendous amount of experience in a variety of key areas for public manufacturing companies. We believe John will allow Active Power to maintain the financial and operational discipline necessary to continue increasing its gross margin and revenue."
"I"m very excited about Active Power"s potential, particularly with its new extended runtime product," said Penver. "I look forward to helping the company continue its drive toward profitability and market leadership."
About Active Power:
Active Power, Inc. (www.activepower.com) designs, manufactures and markets battery-free power quality products that provide the consistent, reliable electric power required by today"s digital economy. An ISO 9001-registered company, Active Power is the first to commercialize a flywheel energy storage system that provides a highly reliable, low-cost and non-toxic replacement for lead-acid batteries used in conventional power quality installations.
Active Power and our Active Power logo are registered trademarks of Active Power, Inc. All other trademarks are the properties of their respective companies.
Active Power, Inc., Austin
Michael Chibib, Investors, 512-744-9453
Derek Jones, Corporate Communications, 512-744-9210
Source: Active Power, Inc.