From the Wires
Active Power Appoints Thomas Patrick Kelly to Board of Directors
Rod Bond to Step Down as Board Member
By: Marketwired .
Jan. 25, 2013 05:00 PM
AUSTIN, TX -- (Marketwire) -- 01/25/13 -- Active Power (NASDAQ: ACPW), manufacturer of UPS (uninterruptible power supply) systems and modular infrastructure solutions, has announced its board of directors has named Thomas Patrick Kelly to the company's board effective Jan. 25, 2013. Kelly currently serves as interim CFO for Panera Bread Company (NASDAQ: PNRA). Kelly will replace Rod Bond who will not seek reelection as a board member when his term expires at the company's annual shareholder meeting in May of 2013.
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
About Active Power
Cautionary Note Regarding Forward-Looking Statements
Active Power and CleanSource are registered trademarks of Active Power, Inc. The Active Power logo and PowerHouse are trademarks of Active Power, Inc. All other trademarks are the properties of their respective companies.
SOURCE: Active Power, Inc.
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