Ormat Board Names Mr. Isaac Angel as CEO
11 Fevereiro 2014 - 10:00AM
Ormat Technologies, Inc. (NYSE:ORA) announced today that its Board
of Directors has appointed Mr. Isaac Angel as Chief Executive
Officer. Mr. Angel will join Ormat on April 1, 2014 and assume the
CEO position effective July 1, 2014. He will succeed Mrs. Yehudit
(Dita) Bronicki, who announced her retirement in November after 50
years of service in the company. Mrs. Bronicki will continue to
serve as a Director of Ormat, in a non-executive capacity.
"After careful consideration, the Board has determined that
Mr. Angel is the right person to lead Ormat forward," said Mrs.
Bronicki. "Mr. Angel is a proven leader with extensive experience
of growing, managing and advising public companies. His ability to
immerse himself in the operations of a business and find ways to
optimize them will prove invaluable, as Ormat continues on its
trajectory as the leading geothermal company."
Mr. Gillon Beck, Chairman of the Board of Directors of Ormat,
added: "I know Mr. Angel as an experienced, talented and visionary
leader. On behalf of the entire Board I want to express how excited
we are at the prospect of Mr. Angel leading this unique company and
its capable management team to new levels of success in the coming
years".
"I am extremely honored to have been chosen by the Board, as
Ormat's next CEO, and look forward to advancing the Company and
enhancing value for shareholders," said Mr. Angel. "With the demand
for renewable energy on the rise across the globe, Ormat is
well-positioned to generate strong growth on both the Electricity
and Products sides of its business. Ormat is a great company,
I am confident that working together with Ormat's world-class team
and its Board, will make it possible for Ormat to realize its full
potential."
Background on Mr. Angel
Mr. Angel, 57, spent 27 years in various positions at Lipman
Electronic Engineering Ltd., including as its President and CEO,
from February 1999 to November 2006, when it was acquired by
VeriFone Holdings Inc. During his years with Lipman which began in
1979, Mr. Angel rose through the ranks holding positions focused on
Research & Development and Sales & Marketing. He also
led Lipman through a successful IPO and later on a secondary
offering in NASDAQ. After the acquisition by VeriFone, he
served as Executive Vice President, Global Operations of VeriFone
from 2006 to 2008. From 2008 to 2009, Mr. Angel served as Executive
Chairman of LeadCom Integrated Solutions Ltd. Mr. Angel is a
director of Frutarom Industries Ltd. since 2008 and served as a
director for Retalix Ltd. from 2012 until it was acquired in 2013.
In recent years Mr. Angel has also been active making personal
investments and supporting a wide variety of philanthropic
endeavors.
About Ormat Technologies, Inc.
With over four 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 over 82
U.S. patents, Ormat's power solutions have been refined and
perfected under the most grueling environmental conditions. Ormat
has over 500 employees in the United States and about 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 supplied to utilities and developers
worldwide, totaling over 1750 MW of gross capacity. Ormat's current
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 March 11, 2013.
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.
CONTACT: Ormat Technologies Contact:
Dita Bronicki
CEO
775-356-9029
dbronicki@ormat.com
Investor Relations Contact:
Rob Fink/Brad Nelson
KCSA Strategic Communications
212-896-1206 (Fink)/212-896-1217 (Nelson)
rfink@kcsa.com / bnelson@kcsa.com
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