Ms. Dita Bronicki Retiring From Board of Directors
November 03 2015 - 5:51PM
Ormat Technologies, Inc. (NYSE:ORA) announced today that Ms. Dita
Bronicki has informed the Company that she will resign from her
position as a Director on the Company's Board of Directors and a
member of the Compensation Committee, effective November 15, 2015.
“On behalf of the Board of Directors, we thank
Dita for her longstanding service to the Company and its
missions. Ms. Bronicki has been a member of the Board of
Directors since the Company’s inception and has served as its CEO
for 23 years until my appointment on July 1st, 2014,” said Isaac
Angel, Chief Executive Officer of the Company. “With her
knowledge and experience, Dita has skillfully served the Company,
guiding and contributing to its significant accomplishments. We
wish Dita the best of luck in all her future endeavors, which we
are certain will be successful.”
“I am delighted to have had the opportunity to
lead the company and contribute to its impressive growth and
achievements over the years in my roles as the previous chief
executive officer and a member of the Board of Directors,” said Ms.
Bronicki. “Although I will no longer have a formal position
with the Company, I intend to be fully available to management and
the Board to the extent they wish and find it helpful,” she
added.
Acting upon the recommendation of the Board of
Directors' Nominating and Governance Committee, the Board of
Directors appointed Ms. Ravit Barniv as a director to fill
the vacancy on the board, effective upon Ms. Bronicki’s
resignation.
Ms. Barniv holds a BA in Economics and
Philosophy (1987) and an MBA in Finance (1996) from Tel-Aviv
University. She will join the Board as an independent director.
Ms. Barniv recently served as a chairperson of the Board of
Directors of Tnuva Group, the largest food group in Israel since
2013. Prior to her position in Tnuva, Ms. Barniv served as
chairperson of the Board of Directors of Shikun & Binui
Holdings Group Ltd. and as CEO of Netvision Communications.
"The company looks forward to Ms. Barniv joining
our Board of Directors," noted Mr. Angel. "Her experience in
executive roles in other organizations and specifically in the
construction and infrastructure, as well as the renewable energy,
sectors will benefit Ormat in its future growth plans," he
added.
About Ormat Technologies
With five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company solely engaged in geothermal and
recovered energy generation (REG). The company owns, operates,
designs, manufactures and sells geothermal and REG power plants
primarily based on the Ormat Energy Converter - a power generation
unit that converts low-, medium- and high-temperature heat into
electricity. With 69 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 470 employees in the United States and over
600 overseas. Ormat’s flexible, modular solutions for geothermal
power and REG are ideal for the vast range of resource
characteristics. The company has engineered, manufactured and
constructed power plants, which it currently owns or has installed
to utilities and developers worldwide, totaling approximately 2,000
MW of gross capacity. Ormat’s current 666 MW generating portfolio
is spread globally in the U.S., Guatemala and Kenya.
Ormat’s Safe Harbor
Statement
Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for
future operations and are based upon its management's current
estimates and projections of future results or trends. Actual
future results may differ materially from those projected as a
result of certain risks and uncertainties. For a discussion of such
risks and uncertainties, see "Risk Factors" as described in Ormat
Technologies, Inc.'s Annual Report on Form 10-K filed with the
Securities and Exchange Commission on February 26, 2015.
These forward-looking statements are made only
as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Ormat Technologies Contact:
Smadar Lavi
Investor Relations
775-356-9029
slavi@ormat.com
Investor Relations Agency Contact:
Miri Segal/Brett Maas
MS/Hayden - IR
917-607-8654/646-536-7331
msegal@ms-ir.com / brett@haydenir.com
Ormat Technologies (NYSE:ORA)
Historical Stock Chart
From Jul 2024 to Aug 2024
Ormat Technologies (NYSE:ORA)
Historical Stock Chart
From Aug 2023 to Aug 2024