Capstone Announces the Appointment of Robert C. Flexon to its Board of Directors
23 Abril 2018 - 9:30AM
Capstone Turbine Corporation (www.capstoneturbine.com)
(NASDAQ:CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, announced today the appointment of
Robert C. Flexon to its Board of Directors. Mr. Flexon is an
exceptional leader who has shown a proven ability to serve both the
interest of shareholders and employees with the same passion, drive
and respect.
Mr. Flexon recently served as the President and Chief Executive
Officer of Dynegy Inc., a power generation company based in
Houston, Texas. The company provided reliable, environmentally
responsible, and affordable energy with a generating capacity of
more than 27,000 megawatts. On April 9, 2018, Dynegy was acquired
by Vistra Energy Corp. (NYSE:VST) in a tax-free, all-stock
transaction worth $1.7 billion. The combined company has an
enterprise value of more than $20 billion.
Darren Jamison, President and Chief Executive Officer of
Capstone, stated, “Bob is a highly experienced executive and
financial innovator in the energy industry, and we are excited to
welcome him to the Capstone board of directors. I believe his
strong energy industry experience, especially in mergers and
acquisitions, and in building global businesses, will be extremely
valuable as Capstone continues to grow its distributed generation
business around the world,” added Mr. Jamison.
Prior to joining Dynegy, Mr. Flexon served as the Chief
Financial Officer of UGI Corporation, a distributor and marketer of
energy products and services. In 2009, he served as President and
Chief Executive Officer of Foster Wheeler’s U.S. subsidiary and
then Chief Executive Officer of Foster Wheeler, a global
engineering and construction contractor and power equipment
supplier. Mr. Flexon served five years at NRG Energy, Inc. in
various executive level positions including Executive Vice
President and Chief Financial Officer and Executive Vice President
and Chief Operating Officer. He also has held key finance and
accounting positions with Hercules, Inc. and Atlantic Richfield
Company.
“We conducted an exhaustive search for someone who would further
strengthen our board’s breadth of talent and we are delighted to
have identified such an outstanding executive like Bob,” said Paul
DeWeese, Capstone’s Chairman of the Nominating and Governance
Committee. “I am very pleased with the results of our six-month
search as Bob is an excellent addition to the Capstone board and
has all the key characteristics we were looking for in a new
director,” added Mr. DeWeese. “I have long been interested
in the benefits and long-term potential for low emission
distributed generation technology and am very impressed by
Capstone’s innovative technology and forward-looking leadership
team,” said Mr. Flexon. “I am honored to be joining the Capstone
board and look forward to getting to work and contributing,” added
Mr. Flexon.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com)
(NASDAQ:CPST) is the world’s leading producer of low-emission
microturbine systems and was the first to market commercially
viable microturbine energy products. Capstone has shipped over
9,000 Capstone Microturbine systems to customers worldwide. These
award-winning systems have logged millions of documented runtime
operating hours. Capstone is a member of the U.S. Environmental
Protection Agency's Combined Heat and Power Partnership, which is
committed to improving the efficiency of the nation's energy
infrastructure and reducing emissions of pollutants and greenhouse
gases. A DQS-Certified ISO 9001:2015 and ISO 14001:2015 certified
company, Capstone is headquartered in the Los Angeles area with
sales and/or service centers in the United States, Latin America,
Europe, Middle East and Asia.
For more information about the company, please visit
www.capstoneturbine.com. Follow Capstone Turbine on Twitter,
LinkedIn and YouTube.
Forward-Looking Statements
This press release contains “forward-looking statements,” as
that term is used in the federal securities laws, about the rebound
in business, profitability, lowering our expenses, growth in our
revenues, progress towards our Adjusted EBITDA breakeven milestone,
and tightly managing our balance sheet. Forward-looking
statements may be identified by words such as “expects,”
“objective,” “intend,” “targeted,” “plan” and similar phrases.
These forward-looking statements are subject to numerous
assumptions, risks and uncertainties described in Capstone’s
filings with the Securities and Exchange Commission that may cause
Capstone’s actual results to be materially different from any
future results expressed or implied in such statements. Capstone
cautions readers not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Capstone undertakes no obligation, and specifically
disclaims any obligation, to release any revisions to any
forward-looking statements to reflect events or circumstances after
the date of this release or to reflect the occurrence of
unanticipated events.
“Capstone” and “Capstone Microturbine” are registered trademarks
of Capstone Turbine Corporation. All other trademarks mentioned are
the property of their respective owners.
CONTACT: Capstone Turbine CorporationInvestor
and investment media
inquiries:818-407-3628ir@capstoneturbine.com
Integra Investor RelationsShawn M.
Severson415-226-7747cpst@integra-ir.com
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