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8-K - FORM 8-K - ADVANCED ENERGY INDUSTRIES INC | c20774e8vk.htm |
EX-10.1 - EXHIBIT 10.1 - ADVANCED ENERGY INDUSTRIES INC | c20774exv10w1.htm |
Exhibit 99.1
CONTACTS: |
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Danny Herron Advanced Energy Industries, Inc. 970.407.6570 danny.herron@aei.com |
Annie Leschin/Vanessa Lehr Advanced Energy Industries, Inc. 970.407.6555 ir@aei.com |
ADVANCED ENERGY ANNOUNCES GARRY ROGERSON TO JOIN AS CEO;
DR. HANS BETZ TO RETIRE
Fort Collins, Colo., August 2, 2011 Advanced Energy Industries, Inc. (Nasdaq GM: AEIS) today
announced that its board of directors has appointed Garry Rogerson, Ph.D., as the Companys new
chief executive officer and board member, effective as of August 4, 2011. Dr. Hans Betz, Advanced
Energys chief executive officer since 2005, will continue as an advisor until December 31, 2011.
I am excited to join the rest of the leadership team at Advanced Energy, said Garry Rogerson. I
share their vision for growth in both the thin films and renewables business units. I look forward
to the challenge of achieving the Companys goals and continuing Advanced Energys unrivaled
commitment to customers and innovation which affords us tremendous prospects for the future.
Garry is chairman of the board of Coherent Inc., and has served on Coherents board since 2005.
Garry was chief executive officer of Varian, Inc., a major supplier of scientific instruments and
vacuum products from February 2004, and Varians chairman and CEO from 2009 until the purchase of
Varian by Agilent Technologies, Inc. in May 2010. Garry served as Varians chief operating officer
from 2002 to 2004, as senior vice president, Scientific Instruments from 2001 to 2002, and as vice
president, Analytical Instruments from 1999 to 2001. Garry received an honors degree and Ph.D. from
the University of Kent at Canterbury, Great Britain.
After six years as CEO of Advanced Energy, I am retiring, said Dr. Hans Betz. We have built a
stronger, more focused company that is well positioned for the future. The strength and growth of
our two business units, thin films and renewables, was made possible by the efforts and support of
our employees, customers and investors. I want to take this opportunity to thank them all. I am
very proud of our accomplishments and feel that now is the appropriate time for me to hand over
leadership to Garry. Garry is an outstanding choice to lead the Company in its next stage of
growth. We have planned a well-organized transition and I will be available until the end of 2011
to assist Garry.
We are very proud of Hans dedication and service to Advanced Energy over the last six years,
said Doug Schatz, chairman of the board of directors of Advanced Energy. Hans has led the Company
through a period of significant growth and strategic diversification that lays the ground work for
Garry and the team to continue this track record of success. Were delighted to have Garry join us
as CEO. He brings a great deal of valuable experience and a proven track record of strategic
leadership. We are confident that Garry will drive long-term growth for Advanced Energy by
leveraging our heritage of technology leadership and customer satisfaction.
About Advanced Energy
Advanced Energy (NASDAQ: AEIS News) is a global leader in innovative power and control
technologies for thin-film manufacturing and high-growth solar-power generation. Advanced Energy is
headquartered in Fort Collins, Colorado, with dedicated support and service locations around the
world. For more information, go to www.advanced-energy.com.
Forward-Looking Language
Advanced Energys expectations with respect to statements that are not historical information are
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These include statements regarding the expected
future performance of the Company and leadership transition. Forward-looking statements are subject
to known and unknown risks and uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. Risks associated with Advanced Energys
business, industry and stock are described in Advanced Energys Form 10-K, Forms 10-Q and other
reports and statements filed with the Securities and Exchange Commission. These reports and
statements are available on the SECs website at www.sec.gov. Copies may also be obtained from
Advanced Energys website at www.advancedenergy.com or by contacting Advanced Energys investor
relations at 970-407-6555. Forward-looking statements are made and based on information available
to the company on the date of this press release. Advanced Energy assumes no obligation to update
the information in this press release.