Advanced Energy Industries Announces Retirement of Chairman
February 10 2015 - 9:10AM
Advanced Energy Industries, Inc. (Nasdaq:AEIS), a leader in
precision power conversion, today announced that Richard ("Dick")
P. Beck has informed the company of his decision to retire. He will
not stand for re-election to the board at the 2015 annual meeting
of shareholders scheduled for May 7, 2015. Mr. Beck will serve the
remainder of his term as a director and as chair of the Nominations
and Governance Committee until the 2015 annual meeting of
shareholders. The board appointed Terry Hudgens as the new chairman
of the board. Mr. Hudgens has been a director of the Company since
2010 and is a seasoned business executive, having last served as
president and chief executive officer of Iberdrola Renewables' U.S.
and Canadian energy businesses. The size of the board will be
reduced to seven members effective upon the end of Mr. Beck's term.
"On behalf of the entire company, we extend our sincere
appreciation to Dick for his dedication and contributions to
Advanced Energy," said Yuval Wasserman, president, chief executive
officer, and director. "Dick has played a critical role as a member
of the board of directors over the last 20 years, and as chairman
over the last year. Dick originally joined the Company as its chief
financial officer in 1992 and was instrumental in taking it public
in 1995. We are grateful for his leadership and many years of
service."
"It has been a privilege to be part of the Advanced Energy team
over the last 23 years, and I believe that with Terry, as chairman,
and Yuval, as president and CEO, the company has excellent leaders
during this exciting time," said Mr. Beck.
About Advanced Energy
Advanced Energy (Nasdaq:AEIS) is a global leader in innovative
power and control technologies for high-growth, precision power
conversion solutions. 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.
CONTACT: Danny Herron
Advanced Energy Industries, Inc.
970.407.6570
danny.herron@aei.com
Annie Leschin
Advanced Energy Industries, Inc.
970.407.6555
ir@aei.com
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