Energy Conversion Devices Appoints Harry W. Zike Vice President and Chief Financial Officer
30 7월 2008 - 5:19AM
PR Newswire (US)
ROCHESTER HILLS, Mich., July 29 /PRNewswire-FirstCall/ -- Energy
Conversion Devices, Inc. (ECD) (NASDAQ:ENER), a leading global
manufacturer of thin-film solar products, announced today it has
appointed Harry W. Zike as Vice President and Chief Financial
Officer effective September 1. Mr. Zike will replace Sanjeev Kumar
who has decided to leave the company at the end of August to pursue
other opportunities. As CFO, Mr. Zike will be responsible for all
aspects of ECD's finance function, including accounting, financial
planning and analysis, tax, treasury, audit, and information
technology activities of ECD. He will report to Mark Morelli, ECD's
President and Chief Executive Officer. Prior to joining ECD, Mr.
Zike served as Executive Vice President, Chief Financial Officer
and Director with Siemens VDO Automotive Corporation where he
headed the financial and business administration operations of the
Americas region. Additionally, he was responsible for corporate
governance, shared services, information technology/security,
treasury and taxes, risk management, insurance, real estate and
facilities, internal audit and procurement, and logistics. While at
Siemens Westinghouse Power Corporation, Mr. Zike was Vice President
and Chief Financial Officer and Director. In this role, together
with the executive management team, he integrated the acquisition
of the approximate $1 billion fossil power generation business of
Westinghouse into Siemens and managed a fourfold growth in revenue.
"We are pleased that Harry has made the decision to join the ECD
leadership team. He brings broad-based financial and executive
leadership experience that will be essential to our ongoing success
as we continue to commercialize our technology and accelerate our
growth in the rapidly expanding global solar industry," said Mr.
Morelli. "With his background in fast growth environments, and with
more than 30 years of progressive and international finance
experience, Harry is an important addition as we rapidly grow to
1GW of capacity." "We would also like to acknowledge and thank
Sanjeev for his service and commitment to ECD during a period of
enormous change and progress," added Mr. Morelli. "During his
tenure, we turned the corner operationally and financially, reached
profitability, completed a major capital raise, and delivered
significant value to shareholders. We appreciate Sanjeev's
contributions to ECD's growth and his assistance in transitioning
Harry into his new role. We wish Sanjeev well in his future
endeavors." Mr. Morelli added, "We are seeing strong demand for our
products in the marketplace and continue to experience positive
momentum. We look forward to speaking to investors on our fourth
quarter earnings conference call, scheduled for August 28, 2008."
About Energy Conversion Devices Energy Conversion Devices, Inc.
(NASDAQ:ENER) manufactures and sells thin-film solar laminates that
convert sunlight to energy using proprietary technology.
Distributed globally under the UNI-SOLAR(R) brand, the company's
products are ideally suited for cost-effective solar roofing
solutions because they are lightweight, durable, flexible, can be
integrated directly with building materials, and generate more
energy in real-world conditions. ECD also pioneers other
alternative technologies, including a new type of non-volatile
digital memory that is significantly faster and less expensive, and
is ideal for a variety of applications including cell phones,
digital cameras and personal computers. For more information,
please visit http://www.ovonic.com/. This release may contain
forward-looking statements within the meaning of the Safe Harbor
Provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are based on assumptions which
Energy Conversion Devices (ECD), as of the date of this release,
believes to be reasonable and appropriate. ECD cautions, however,
that the actual facts and conditions that may exist in the future
could vary materially from the assumed facts and conditions upon
which such forward-looking statements are based. The risk factors
identified in the ECD filings with the Securities and Exchange
Commission, including the company's most recent Annual Report on
Form 10-K, could impact any forward-looking statements contained in
this release. DATASOURCE: Energy Conversion Devices, Inc. CONTACT:
Mark Trinske, Vice President, Investor Relations & Corporate
Communications of Energy Conversion Devices, Inc., +1-248-299-6063
Web site: http://www.ovonic.com/
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