AUSTIN, TX--(Marketwire - Jan 25, 2013) - Active Power (
It is the board's intention to reduce its membership to seven members following the departures of Bond and Benjamin Scott in May. Active Power announced on Dec. 10, 2012, Scott would not seek reelection as a board member when his term expires in May.
"I am very proud having served as a director for nearly 19 years," said Rod Bond. "It has been exciting to see the company develop from a high tech developer originally known as Magnetic Bearings to a recognized solutions provider of continuous power and critical backup systems."
"We are very appreciative of Rod's tenure on our board and his commitment to see the business succeed," said Dr. Ake Almgren, chairman, Active Power's board of directors. "We acknowledge his contributions and efforts in helping grow the business to the inflection point we are at now."
"We are also excited to appoint Pat to our board as he brings to the table a tremendous amount of executive management, corporate strategy, business, and financial experience," continued Dr. Almgren. "We very much look forward to benefit from his strong business and financial acumen which is directly relevant to the next phase of the company."
Thomas Patrick Kelly Bio
Thomas Patrick Kelly serves as interim CFO for Panera Bread leading all finance and accounting teams for the bakery-café company. Prior to joining Panera in April 2012, Kelly was interim CFO for Hawker Beechcraft Corp., a Wichita, Kan. based aerospace manufacturing company. Before joining Hawker Beechcraft, he served as interim CEO at ExpressJet, a regional airline in Houston, Texas. Kelly has also held a number of senior financial positions at Vignette Corp., which was acquired by Open Text Corp.; Dell, Inc.; Trilogy Enterprises; Sabre Holdings; and American Airlines.
About Active Power
Founded in 1992, Active Power (
Cautionary Note Regarding Forward-Looking Statements
This release may contain forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the power quality market. Please refer to Active Power filings with the Securities and Exchange Commission for more information on the risk factors that could cause actual results to differ.
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SOURCE: Active Power, Inc.