Ormat Technologies, Inc. Announces Planned Retirement of Yehudit (Dita) Bronicki (Effective June 30, 2014) and Related Board ...
05 Novembro 2013 - 8:36PM
Ormat Technologies, Inc. (NYSE:ORA) today announced that Mrs.
Yehudit (Dita) Bronicki, the company's chief executive officer, has
decided to retire from her position of CEO, effective June 30,
2014, the current expiration date under her employment contract,
thus starting an orderly leadership transition over the next 8
months. Mrs. Bronicki will continue to serve as a director of the
company following her planned retirement as CEO. Mrs. Bronicki's
decision to retire will bring to a close a remarkable career of 48
years of continuous management service to the Company and its
shareholders.
The company further announced that Mr. Gillon Beck has decided
to step down from his position of chairman of the board of
directors of the company, also effective June 30, 2014 and that the
board of directors has elected and appointed Mr. Yoram Bronicki as
the succeeding chairman, with such appointment being effective June
30, 2014. Mr. Beck will continue to serve as a director of the
company after he steps down from his position as chairman. Upon
assuming the position of the chairman of the board Mr. Yoram
Bronicki will relinquish his position as president and chief
operating officer of the company.
The board of directors has established a search committee to
assist the Board in conducting the process of choosing Mrs.
Bronicki's successor.
"Mrs. Bronicki has been with the company for 48 years, and has
served as its CEO for 23 of those years. During that time, Mrs.
Bronicki took Ormat from a small products manufacturer for third
parties to a multinational, independent power producer, with
generation capacity of approximately 600 MW around the world and a
market capitalization of over $1 billion," said Mr. Gillon Beck,
chairman of the board. "Mrs. Bronicki was the driving force and
leader behind Ormat's 2004 IPO, establishing the Company as a
leading NYSE-listed renewable energy power producer. Ormat
delivered over 1600MW of clean energy solutions to over 20
countries around the world. She is leaving a very strong,
profitable and growing company thanks to her leadership over the
years. The Board of Directors is grateful for Mrs. Bronicki's
tireless contribution to the Company and her distinguished tenure
as CEO over the years."
"I have been privileged to lead one of the world's unique
renewable energy companies," Mrs. Bronicki said. "After more than
two decades as CEO, it is time to move on and transfer the
company's helm to a new generation of leadership. I am proud of the
strong and profitable company that we have created and would like
to take this opportunity to thank Lucien Bronicki whose vision
became the foundation of the company, and all the generations of
Ormat employees who assisted us over the 48 years of building this
vertically integrated renewable energy company. I look forward to
working with the board of directors and the company's management
team during the transition period, and to continue my relationship
and active role with the company after my retirement in my
continued capacity as a board member."
About Ormat Technologies
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 approximately 1600 MW of gross capacity.
Ormat's current generating portfolio of 595 MW (net) 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
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