Market Overview

Active Power Appoints Dr. Ake Almgren as Chairman of Its Board of Directors


Active Power (NASDAQ: ACPW), manufacturer of UPS systems and modular infrastructure solutions, has announced that Dr. Ake Almgren, a current member of Active Power's board, has been named chairman of the board of directors. Benjamin Scott has informed the company that he will not seek reelection as a member of the board when his term expires and as such has stepped down from his position as chairman of the board. Scott will remain a member of the board of directors until his term expires at the time of the company's annual shareholder meeting in 2013.

"I am extremely proud to have served on Active Power's board for the last 10 years and as chairman for five of those years," said Benjamin Scott, former chairman of Active Power's board of directors. "I believe we have put the foundational elements in place to support Active Power's success both strategically and in building value for its shareholders. I have every confidence that Ake will enhance this process as the company moves forward."

"On behalf of our board and the executive team, we are grateful to Ben for his service on the board and to the company over the last 10 years," said Doug Milner, president and CEO, for Active Power. "Ben's strategic insight and leadership have proven invaluable as we have worked to position Active Power for sustained growth and improvement in financial performance."

"Moving ahead, I am thrilled to have Ake Almgren as our board chairman as he brings to the table a deep understanding of our technology, products, and the markets we compete in," said Milner. "He also brings significant industry experience from his leadership positions with Capstone and ABB Group, which I believe will continue to serve our business well."

Posted-In: News Management


Related Articles (ACPW)

View Comments and Join the Discussion!