DGAP-News: Advanced Energy Announces Garry Rogerson to Join as CEO; Dr. Hans Betz to Retire
ID: 454789
02.08.2011 14:30
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FORT COLLINS, Colo., 2011-08-02 14:30 CEST (GLOBE NEWSWIRE) --
Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced that its board
of directors has appointed Garry Rogerson, Ph.D., as the Company's new chief
executive officer and board member, effective as of August 4, 2011. Dr. Hans
Betz, Advanced Energy's chief executive officer since 2005, will continue as an
advisor until December 31, 2011.
'I am excited to join the rest of the leadership team at Advanced Energy,' said
Garry Rogerson. 'I share their vision for growth in both the thin films and
renewables business units. I look forward to the challenge of achieving the
Company's goals and continuing Advanced Energy's unrivaled commitment to
customers and innovation which affords us tremendous prospects for the future.'
Garry is chairman of the board of Coherent Inc., and has served on Coherent's
board since 2005. Garry was chief executive officer of Varian, Inc., a major
supplier of scientific instruments and vacuum products from February 2004, and
Varian's chairman and CEO from 2009 until the purchase of Varian by Agilent
Technologies, Inc. in May 2010. Garry served as Varian's chief operating
officer from 2002 to 2004, as senior vice president, Scientific Instruments
from 2001 to 2002, and as vice president, Analytical Instruments from 1999 to
2001. Garry received an honors degree and Ph.D. from the University of Kent at
Canterbury, Great Britain.
'After six years as CEO of Advanced Energy, I am retiring,' said Dr. Hans Betz.
'We have built a stronger, more focused company that is well positioned for the
future. The strength and growth of our two business units, thin films and
renewables, was made possible by the efforts and support of our employees,
customers and investors. I want to take this opportunity to thank them all. I
am very proud of our accomplishments and feel that now is the appropriate time
for me to hand over leadership to Garry. Garry is an outstanding choice to lead
the Company in its next stage of growth. We have planned a well-organized
transition and I will be available until the end of 2011 to assist Garry.'
'We are very proud of Hans' dedication and service to Advanced Energy over the
last six years,' said Doug Schatz, chairman of the board of directors of
Advanced Energy. 'Hans has led the Company through a period of significant
growth and strategic diversification that lays the ground work for Garry and
the team to continue this track record of success. We're delighted to have
Garry join us as CEO. He brings a great deal of valuable experience and a
proven track record of strategic leadership. We are confident that Garry will
drive long-term growth for Advanced Energy by leveraging our heritage of
technology leadership and customer satisfaction.'
About Advanced Energy
Advanced Energy (Nasdaq:AEIS) is a global leader in innovative power and
control technologies for thin-film manufacturing and high-growth solar-power
generation. 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.
Forward-Looking Language
Advanced Energy's expectations with respect to statements that are not
historical information are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These include statements regarding the expected future
performance of the Company and leadership transition. Forward-looking
statements are subject to known and unknown risks and uncertainties that could
cause actual results to differ materially from those expressed or implied by
such statements. Risks associated with Advanced Energy's business, industry and
stock are described in Advanced Energy's Form 10-K, Forms 10-Q and other
reports and statements filed with the Securities and Exchange Commission. These
reports and statements are available on the SEC's website at www.sec.gov.
Copies may also be obtained from Advanced Energy's website at
www.advancedenergy.com or by contacting Advanced Energy's investor relations at
970-407-6555. Forward-looking statements are made and based on information
available to the company on the date of this press release. Advanced Energy
assumes no obligation to update the information in this press release.
CONTACT: Danny Herron
Advanced Energy Industries, Inc.
970.407.6570
danny.herron@aei.com
Annie Leschin/Vanessa Lehr
Advanced Energy Industries, Inc.
970.407.6555
ir@aei.com
News Source: NASDAQ OMX
02.08.2011 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Advanced Energy Industries, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US0079731008
WKN:
End of Announcement DGAP News-Service
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Datum: 02.08.2011 - 14:30 Uhr
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News-ID 454789
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