Energy Conversion Devices Appoints Mark Morelli President and CEO
02 8월 2007 - 5:06AM
PR Newswire (US)
ROCHESTER HILLS, Mich., Aug. 1 /PRNewswire-FirstCall/ -- Energy
Conversion Devices, Inc. (ECD) (NASDAQ:ENER) has appointed Mark D.
Morelli as President and Chief Executive Officer and a member of
its Board of Directors, effective September 1, 2007. Robert C.
Stempel will continue in his present capacity as Chief Executive
Officer through August 31, 2007, and will continue thereafter as
Chairman of ECD's Board of Directors. Mr. Morelli, 43, has been a
senior executive with United Technologies Corporation, most
recently serving as President of its Carrier Commercial
Refrigeration business, a division of Carrier Corporation. He has
had progressive executive leadership roles, including international
assignments, with a proven track record of improving profitability,
leading team-building and reorganization efforts, and integrating
businesses on a global scale. His customer and strategic product
experience includes building-integrated commercial products. "We
are delighted to bring Mark on board to lead the company," said
Stephen Rabinowitz, Lead Director of ECD's Board of Directors, who
led the search committee. "Mark is a talented executive who has
demonstrated success in a dynamic, high-performance environment. He
has tremendous energy, drive and experience-particularly in
bringing technology products to market and profitably building
market share-that will be instrumental as we continue
commercializing our products and drive toward sustainable
profitability." Mr. Morelli received his MBA from the Massachusetts
Institute of Technology and bachelors of mechanical engineering
from the Georgia Institute of Technology. Mr. Morelli has also
served as an Attack Helicopter Company Commander in the United
States Army National Guard. "We also want to recognize Bob
Stempel's contributions to ECD," added Mr. Rabinowitz. "When Bob
joined ECD in 1995, the company had many promising technologies,
which were still in the development stage. Bob had a vision, and,
through his leadership and dedication, he navigated the realization
of ECD's technology portfolio into commercial products for new
markets. He has guided the company from its research and
development roots to a global, commercial enterprise, and his
efforts provide the foundation for the company's future success. We
wish him all the best in his retirement." These executive
management changes are part of the company's announced succession
planning activities, which are nearing completion. In connection
with Mr. Morelli's appointment, James Metzger will resume his
position as Executive Vice President and Chief Operating Officer,
the position he held before serving as Interim President beginning
in April 2007. "We appreciate Jim's contributions during this
transition period, especially his leadership in implementing the
organizational restructuring plan," said Mr. Rabinowitz. About
Energy Conversion Devices Energy Conversion Devices is the leader
in the synthesis of new materials and the development of advanced
production technology and innovative alternative energy products
and solutions. The company's portfolio of alternative energy
solutions and proprietary information processing technologies
features the latest advances in solar electric power generation,
NiMH batteries, and fuel cell, solid hydride storage and
phase-change memory technologies. ECD designs and builds
manufacturing machinery that incorporates its proprietary
production processes, maintains ongoing research and development
programs to continually improve its products and develops new
applications for its technologies. ECD holds the basic patents in
its fields. More information on the Company is available at
http://www.ovonic.com/. DATASOURCE: Energy Conversion Devices, Inc.
CONTACT: Sanjeev Kumar, Vice President and CFO, or Ghazaleh Koefod,
Investor Relations, +1-248-293-0440, both of Energy Conversion
Devices, Inc. Web site: http://www.ovonic.com/
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