Capstone Turbine Corporation Announces Darren Jamison as President and CEO.CHATSWORTH, Calif. -- Capstone Turbine Capstone Turbine Corporation NASDAQ: CPST, incorporated in 1988, is a California based gas turbine manufacturer that specializes in microturbine power and heat cogeneration systems. Capstone has sold and shipped more than 3,000 of these one-moving-part systems worldwide. Corporation (www.microturbine.com) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPST CPST Cable Programming Services Tier CPST Commission on Professionals in Science and Technology CPST Community Psychiatric Supportive Treatment (Ohio) CPST Child Passenger Safety Technician CPST Classical Perturbation Scattering Theory ) today announced that it has named Darren R. Jamison as its new President and Chief Executive Officer. Mr. Jamison will also be a member of the Board of Directors of Capstone effective as of December 18, 2006. "We are pleased to announce that Darren Jamison has joined us as our new President and Chief Executive Officer," said Eliot Protsch, Chairman of the Board. "Darren will be a great fit as we were looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. someone with a very specific set of skills combined with the experience necessary to take Capstone to the next level of success. Our search resulted in several well qualified candidates, but Darren possessed the experience, expertise, market knowledge and leadership success that we were seeking." Prior to joining Capstone, Mr. Jamison had been President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Northern Power Systems, Inc. since 2004. Under Mr. Jamison's direction, Northern Power experienced significant growth, including substantial increases in revenue and improved margins. Previous to Northern Power Systems he was Vice President and General Manager of Distributed Energy Solutions for Stewart & Stevenson Services Inc. from 1994 to 2003. Mr. Jamison has an outstanding track record of working with customers to develop financially attractive solutions. "We are grateful for the leadership Mark Gilbreth provided during his role as Interim President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ," Protsch continued, "Mark was effective in leading the organization during the search process and we thank him for this as well as his efforts and dedication as he continues his role as Executive Vice President and Chief Operating Officer." In addition to the other terms of his employment with Capstone Turbine Corporation, Mr. Jamison will receive a 10-year stock option grant to purchase 2,000,000 shares of the common stock of the Company. Conditioned on continued employment, the right to exercise the option will become 25% vested after one year and, thereafter, will become vested pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. each month over the next 36 months. The exercise price for options granted to Mr. Jamison will be the fair market value of Capstone Turbine Corporation's common stock on the date of grant, which is expected to be the price per share at close of market on December 18, 2006. In addition, Mr. Jamison will receive a restricted stock unit grant for 500,000 shares of the Company's common stock that will become 25% vested each year of service over four years. About Capstone Turbine Capstone Turbine Corporation (www.microturbine.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 Turbine has shipped more than 3,500 Capstone MicroTurbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine 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 UL-Certified ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. area with sales and/or service centers in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Mexico City, Milan, Nottingham, Shanghai and Tokyo. "Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion