SunPower Appoints New Chief Operating Officer.Business Editors LOS ALAMOS, N.M.--(BUSINESS WIRE)--June 17, 2002 SunPower Corporation ("SunPower") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SNPW) quoted on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB under the trading symbol "SNPW" and listed on the Berlin Stock Exchange in Germany under the trading symbol "SJP" is pleased to announce the appointment of Mr. Finley Foster to the position of 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. . Mr. Foster has been a leader in the energy engineering, management and professional services market sector for over thirty years. Mr. Foster was formerly a plant manager of a dual unit 1300 MWe utility nuclear generation station and co-founder, 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. of United Energy Services Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Gilbert Associates Inc. His experience includes management, design, engineering, construction, operations, and maintenance of large electrical power generation facilities. He led United Energy from startup, to profitable operation, acquisitions and merger into publicly traded Gilbert Associates, Inc. His broad experience in developing and growing profitable (in excess of 20% EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). ) companies through critical growth transitions has also included Chief Operating Officer of FutureNext Consulting, a systems integration and consulting services company headquartered in McLean, VA., President and COO of SuperDistribution, Inc., and Executive Vice President and COO of MicroStar Company Inc. where he was hired to reverse a five year decline through re-organization and diversification. Mr. Foster graduated with merit from the U.S. Naval Academy in June 1971 with a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies in Control Systems Engineering (computers). He served as an officer in the U.S. Navy aboard a nuclear fast attack submarine as Nuclear Chief Engineering Officer. Mr. Foster and his unit received several commendations for top secret operations conducted by the USS Trepang and was recommended for accelerated promotion at his time of separation from the United States Navy United States Navy Major branch of the U.S. military forces, charged with defending the nation at sea and maintaining security on the seas wherever U.S. interests extend. The Continental Navy was established by the Continental Congress in 1775. . Apart from Mr. Foster's proven operational management and leadership skills, SunPower believes that Mr. Foster will define, manage and accelerate SunPower's efforts to commercialize its products and services to supply alternative and renewable energy in the form of electrical and mechanical power. The appointment of Mr. Finley is indicative of SunPower's commitment of actively recruiting senior management with proven expertise in start-up and development companies that as a group will lead SunPower in its mission of "harvesting the power of the sun to produce water, fuel and electricity, for the environmental benefit of future generations." To find out more about SunPower Corporation (OTCBB:SNPW), visit our website at www.sunpowercorporation.com |
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