Comverge Announces Appointment of R. Blake Young and Robert F. McCullough to its Board of Directors
August 25 2006 - 10:30AM
PR Newswire (US)
EAST HANOVER, N.J., Aug. 25 /PRNewswire/ -- Comverge, Inc., a
leading provider of Clean Energy solutions that reduce peak
electric consumption, increase grid reliability and significantly
reduce utility costs, today announced the appointment of R. Blake
Young and Robert F. McCullough to its Board of Directors as
independent board members. These appointments come as Comverge
continues to meet financial targets and provide stable, aggressive
growth to shareholders -- who include major energy investors such
as Emerson, Air Products & Chemicals, E.On Ventures (NYSE:EON),
and venture capital firms Nth Power, Enertech Capital, and Rockport
Capital Partners. A former managing partner at Arthur Andersen LLP
and CFO and board member of AMVESCAP PLC, Robert F. McCullough will
be joining the Comverge Board of Directors and become Chairman of
the Audit Committee. His extensive financial experience extends
over 30 years, including Audit Chairman and Committee appointments
on the Boards of Acuity Brands, AHL Services, and formerly Mirant.
Mr. McCullough graduated from the University of Texas and is an
active member of the American Institute of Certified Public
Accountants and the Georgia Society of Certified Public
Accountants. "The 'common sense' approach of Comverge's business
models and the company's long standing commitment to corporate
ethics are refreshing to find in today's market," commented
McCullough. "As the Audit Chair, I am looking forward to continuing
this commitment and continuing to provide shareholders the value
and impressive growth they've come to expect from Comverge. Along
with Mr. Young and the other members of the board, I truly
anticipate a strong financial future for the company and am pleased
to be associated with this rapidly growing clean energy company."
R. Blake Young, formerly Executive Vice President and Chief
Administrative Officer for Dynegy where he also served as President
of Illinois Power Company, joins Comverge from a long history in
the energy industry. In Young's 13 years at Tenneco Energy (now El
Paso Energy), he held positions of increasing responsibility
including Director of National Accounts, Chief of Staff to the
Chairman and Chief Executive Officer and Vice President and Chief
Information Officer. Young was also Chief Information Officer of
the US Grocery Division of Campbell's, Inc. and head of global
business systems strategy. Young has served on several non-profit
boards and earned a BS in Computer Science from Louisiana State
University. "The prospect of continuing solid growth in the
emerging Clean Energy market is very real," commented Young, "and
the opportunity to be working with one of the key players is
something I'm looking forward to. Comverge has built such a solid
reputation for excellence within the energy industry and its
innovative offerings are really changing the way utilities and
shareholders look at the sector. I'm confident that, working
together with Bob Chiste, a true visionary in this sector, and his
executive team, we as a board will help Comverge continue its
growth to a bright and successful future." "We are pleased to
welcome these two distinguished individuals as members of our Board
of Directors," stated Robert Chiste, Chairman, President, and CEO
of Comverge. "Just as we continue to attract top executive talent
and additional financial and strategic investors, our Board has
continued to grow and support our corporate strategies with a
strong balance of established business leaders and energy industry
experts. We are looking forward to continuing to lead the Demand
Response industry through our experienced leadership, innovative
business models, and unique solutions. The Clean Energy sector has
emerged as a critical component of our nation's energy strategy,
and Comverge intends to be an important participant in advancing
this sector." About Comverge Comverge, Inc. provides clean,
low-cost peak electric capacity reduction achieved through Demand
Response solutions and technologies, such as its patent pending
fully outsourced Virtual Peaking Capacity(TM) offering. As North
America's leader in Demand Response, Comverge serves over 500
clients in the electric utility industry, implementing both
integrated and outsourced solution-based models for direct and
price responsive load management, remote meter reading, and
distributed generation monitoring. Comverge's investors include Nth
Power, EnerTech Capital, Data Systems & Software (OTC:DSSI)
(BULLETIN BOARD: DSSI) , E.ON Venture Partners (NYSE:EON),
Ridgewood Capital, Easton Hunt Capital Partners, Norsk Hydro
Technology Ventures (NYSE:NHY), Air Products, Emerson, Rockport
Capital Partners, Partners for Growth, and the Shell Internet
Ventures affiliate of Royal Dutch/Shell. For more information,
please visit http://www.comverge.com/. Contact: Arthur Vos VP,
Marketing, Products, & Strategy 973.884.5970, DATASOURCE:
Comverge, Inc. CONTACT: Arthur Vos, VP, Marketing, Products, &
Strategy, +1-973-884-5970, Web site: http://www.comverge.com/
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