Advanced Energy Announces Garry Rogerson to Join as CEO; Dr. Hans Betz to Retire
August 02 2011 - 8:30AM
Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced that
its board of directors has appointed Garry Rogerson, Ph.D., as the
Company's new chief executive officer and board member, effective
as of August 4, 2011. Dr. Hans Betz, Advanced Energy's chief
executive officer since 2005, will continue as an advisor until
December 31, 2011.
"I am excited to join the rest of the leadership team at
Advanced Energy," said Garry Rogerson. "I share their vision for
growth in both the thin films and renewables business units. I look
forward to the challenge of achieving the Company's goals and
continuing Advanced Energy's unrivaled commitment to customers and
innovation which affords us tremendous prospects for the
future."
Garry is chairman of the board of Coherent Inc., and has served
on Coherent's board since 2005. Garry was chief executive officer
of Varian, Inc., a major supplier of scientific instruments and
vacuum products from February 2004, and Varian's chairman and CEO
from 2009 until the purchase of Varian by Agilent Technologies,
Inc. in May 2010. Garry served as Varian's chief operating officer
from 2002 to 2004, as senior vice president, Scientific Instruments
from 2001 to 2002, and as vice president, Analytical Instruments
from 1999 to 2001. Garry received an honors degree and Ph.D. from
the University of Kent at Canterbury, Great Britain.
"After six years as CEO of Advanced Energy, I am retiring," said
Dr. Hans Betz. "We have built a stronger, more focused company that
is well positioned for the future. The strength and growth of our
two business units, thin films and renewables, was made possible by
the efforts and support of our employees, customers and investors.
I want to take this opportunity to thank them all. I am very proud
of our accomplishments and feel that now is the appropriate time
for me to hand over leadership to Garry. Garry is an outstanding
choice to lead the Company in its next stage of growth. We have
planned a well-organized transition and I will be available until
the end of 2011 to assist Garry."
"We are very proud of Hans' dedication and service to Advanced
Energy over the last six years," said Doug Schatz, chairman of the
board of directors of Advanced Energy. "Hans has led the Company
through a period of significant growth and strategic
diversification that lays the ground work for Garry and the team to
continue this track record of success. We're delighted to have
Garry join us as CEO. He brings a great deal of valuable experience
and a proven track record of strategic leadership. We are confident
that Garry will drive long-term growth for Advanced Energy by
leveraging our heritage of technology leadership and customer
satisfaction."
About Advanced Energy
Advanced Energy (Nasdaq:AEIS) is a global leader in innovative
power and control technologies for thin-film manufacturing and
high-growth solar-power generation. Advanced Energy is
headquartered in Fort Collins, Colorado, with dedicated support and
service locations around the world. For more information, go to
www.advanced-energy.com.
Forward-Looking Language
Advanced Energy's expectations with respect to statements that
are not historical information are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These include
statements regarding the expected future performance of the Company
and leadership transition. Forward-looking statements are subject
to known and unknown risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by such statements. Risks associated with Advanced Energy's
business, industry and stock are described in Advanced Energy's
Form 10-K, Forms 10-Q and other reports and statements filed with
the Securities and Exchange Commission. These reports and
statements are available on the SEC's website at www.sec.gov.
Copies may also be obtained from Advanced Energy's website at
www.advancedenergy.com or by contacting Advanced Energy's investor
relations at 970-407-6555. Forward-looking statements are made and
based on information available to the company on the date of this
press release. Advanced Energy assumes no obligation to update the
information in this press release.
CONTACT: Danny Herron
Advanced Energy Industries, Inc.
970.407.6570
danny.herron@aei.com
Annie Leschin/Vanessa Lehr
Advanced Energy Industries, Inc.
970.407.6555
ir@aei.com
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