Capstone Announces the Election of Yon Yoon Jorden to its Board of Directors
April 11 2017 - 4:15PM
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST), the world's leading clean technology manufacturer of
microturbine energy systems, announced today that Yon Yoon Jorden
has been unanimously elected as a new director of
Capstone.
“Capstone’s Nominating and Governance Committee conducted an
extensive search for an executive who would further strengthen our
board’s breadth of talent and experience, and is pleased to have
identified such a highly qualified professional, who will bring a
wealth of financial expertise with her to Capstone,” said Holly Van
Deursen, Capstone’s Chairperson. “We are pleased to welcome Yon
Yoon Jorden as a director, and look forward to the experience she
brings with her as we continue our push towards profitability,”
added Ms. Van Deursen.
Ms. Jorden brings to the Capstone Board of Directors decades of
extensive experience as both a Chief Financial Officer (CFO) as
well as a board member spanning across various healthcare,
technology and manufacturing industries and has served in all areas
of corporate governance and finance including mergers and
acquisitions, structuring IPOs, restructurings, and managing public
debt and equity offerings. Ms. Jorden is a board leadership fellow
of the National Association of Corporate Directors, demonstrating
her leadership as a board member.
Ms. Jorden is a current director for Maxwell Technologies
(NASDAQ:MXWL); Methodist Health System; Dallas Symphony
Association, and the World Affairs Council of Dallas–Fort Worth.
Previously, Ms. Jorden served as a director for Magnatek, Inc.;
U.S. Oncology, and BioScrip.
During an impressive business career spanning more than 25
years, she has held the CFO position of four publicly traded
companies, most recently as Executive Vice President (EVP) and CFO
of Advance PCS. She previously served in the position of EVP and
CFO of Informix Corporation. Before joining Informix Corporation,
Ms. Jorden worked for Oxford Health Plans, Inc. as its Senior Vice
President and CFO.
“After careful consideration, I am delighted to have been
elected to serve on the Capstone Board of Directors. Capstone has
faced its share of macroeconomic challenges over the past two years
but now appears to be making solid traction towards profitability.
With a newly redesigned product offering, management’s focus on the
geographical and market diversification, growing the service
business and an organization-wide war on costs campaign, I am
confident the foundation has been set to drive improving results
going forward,” said Ms. Jorden. “I look to this new opportunity to
offer my financial insight, strategic guidance, and experience in
an effort to further reduce costs, improve efficiencies and assist
in the success of the new Capstone Energy Finance joint venture,”
added Ms. Jorden.
Ms. Jorden is the second outside director appointed to the
Capstone Board of Directors recently, as Mr. Paul DeWeese was
appointed at last year's annual shareholder meeting in late August.
Mr. DeWeese has brought Chief Executive Officer (CEO), strategic
growth and acquisition experience to the Capstone Board and is
assisting the company in improving its aftermarket parts,
accessories and service business. Mr. DeWeese also brings over 19
years of experience in the oil and gas field services industry. He
is a senior executive with vast experience running both public and
private equity-backed companies which were both domestic and
internationally headquartered.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST) is the world's leading producer of low-emission
microturbine systems and was the first to market commercially
viable microturbine energy products. Capstone has shipped
approximately 9,000 Capstone Microturbine systems to customers
worldwide. These award-winning systems have logged millions of
documented runtime operating hours. Capstone is a member of
the U.S. Environmental Protection Agency's Combined Heat
and Power Partnership, which is committed to improving the
efficiency of the nation's energy infrastructure and reducing
emissions of pollutants and greenhouse gases. A UL-Certified ISO
9001:2015 and ISO 14001:2015 certified company, Capstone is
headquartered in the Los Angeles area with sales and/or
service centers in the United States, Latin America, Europe,
Middle East and Asia.
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the
advantages of our Signature Series product offerings and our air
bearing technology, diversification of our customer base, expansion
of our geographic presence, and growth in the CHP and energy
efficiency markets. Forward-looking statements may be identified by
words such as "expects," "objective," "intend," "targeted," "plan"
and similar phrases. These forward-looking statements are subject
to numerous assumptions, risks and uncertainties described in
Capstone's filings with the Securities and Exchange Commission that
may cause Capstone's actual results to be materially different from
any future results expressed or implied in such statements.
Capstone cautions readers not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Capstone undertakes no obligation, and specifically
disclaims any obligation, to release any revisions to any
forward-looking statements to reflect events or circumstances after
the date of this release or to reflect the occurrence of
unanticipated events.
"Capstone" and "Capstone Microturbine" are registered trademarks
of Capstone Turbine Corporation. All other trademarks
mentioned are the property of their respective owners.
CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
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