Change of leadership at Power Systems.Business Editors LONDON--(BUSINESS WIRE)--July 24, 2001 Invensys Invensys plc is a British engineering company, headquartered in London, England. It was formed by the merger of Siebe and BTR in 1999. The company is multinational with operations in over 60 countries, employing over 35,000 employees. plc, the global automation and controls Group, today announces that Tom Gutierrez Gutierrez is the name of:
Tom is leaving to join Xerium and will become Chief Executive Officer and a director of Xerium S.A. on January January: see month. 1, 2002. Xerium was formed in January 2000 and is composed largely of the BTR BTR Rupee (currency of Bhutan) BTR Board of Technical Registration BTR Born to Run (Bruce Springsteen song) BTR Bureau of Tourism Research (Australia) BTR Back To Reality Paper Technology business sold by Invensys to funds advised by Apax Partners & Co. Invensys continues to hold a significant share in Xerium S.A. and is represented on the Board of Directors. Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. Yurko, Chief Executive Officer of Invensys plc, said: "Tom has done an excellent job consolidating the former BTR and Siebe power systems businesses and integrating the Exide, Densei and Best Power acquisitions. He leaves a strong management team and an organization deep in talent. We wish Tom well in his new assignment and are pleased that his association with Invensys - albeit indirect - will continue. "In the interim before a new Divisional Chief Executive is appointed, Tom's senior management team will report directly to me." Tom Gutierrez said: "The decision to leave Invensys has been a difficult one, but the opportunity for me to move into the 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. position at Xerium was extraordinary and I am pleased that Invensys has supported me in the process. The Invensys Power Systems business is a world leader in its field and the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. opportunity for growth remains very strong as the digital world in which we live becomes increasingly dependent on high reliability electrical power. I believe that the leadership team at Invensys Power Systems will be able to deliver on the long-term promise of the business." Invensys plc Invensys plc is a global leader in the Automation and Controls industry. With its head office in London, England it operates in all regions of the world through four focused divisions - Software Systems, Automation Systems, Power Systems and Control Systems. With approximately 80,000 employees, the Group's products and services range from advanced control systems and networks for automating industrial plants and controlling the environment of buildings, to electronic devices and controls found in residential buildings and light commercial applications, plus complete power systems for the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and information technology industries. |
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