Vermont Business Magazine On August 7, 2018, Barre-based Northern Power Systems Corp(TSX:NPS) announced that Ciel RCaldwell, the company’s President and Chief Operating Officer and current interim Chief Financial Officer, announced her intention to resign as president and chief operating officer of Northern, effective immediately, but indicated she would remain with the company to focus exclusively on carrying out her role and responsibilities as chief financial officer. In connection with Caldwell’s resignation as the company’s president and chief operating officer, Caldwell, on August 7, 2018, provided the company with notice of her resignation from its Board of Directors, effective immediately. Caldwell has served on the Board since 2016.
Northern Power has suffered through several recent financial setbacks, including the loss of Italian contracts for its distributed wind turbine business and emergency financing announced last week. It furloughed most of its Vermont workers in the spring. But just last week it entered into a joint venture with Vermont Electric Cooperative to develop an energy storage facility in Hinesburg.
Caldwell assumed the position of Interim Chief Financial Officer, effective July 27, 2018, and on August 7, 2018, the Board of Directors of the Company appointed Ciel R. Caldwell, the Company’s Chief Financial Officer, effective immediately. Caldwell previously has served as the Company’s Chief Financial Officer from February 2013 until May 2016. From May 2016 to August 2016, Caldwell served as the Company’s Senior Vice President for Operations and Finance. Caldwell joined the Company in February of 2011. Caldwell began her career at PricewaterhouseCoopers and holds a BSin Accounting from Babson College.
On August 7, 2018, the Board of Directors of the Company appointed William St. Lawrence and Reinout G. Oussoren as Interim Co-Chief Executive Officers of the Company.
St. Lawrence joined the Company in March of 2017 as its General Counsel and assumed the additional responsibilities of Vice President of Business Development six months thereafter. From 2012 to 2017, he served as the General Counsel and Chief Administrative Officer of Northeast Wireless Networks, LLC, a private equity backed company that designs, builds and operates cellular networks in rural US markets. Prior to joining Northeast Wireless, he acted as Legal and Corporate/ Business Development Officer for a significant family office and a variety of venture backed companies. St. Lawrence began his legal career in the New York office of Heller Ehrman where he represented venture funds, venture-backed companies and investments banks, including Allen & Company, in connection with M&A, public offerings, securities compliance, financings and general commercial matters. St. Lawrence is a graduate of Hobart College and the University of Maine School of Law.
Reinout Oussoren joined the Company in September 2009 and has served in a variety of roles with the Company and most recently as the Company’s Vice President of Global Sales. Oussoren brings more than 20 years of commercial and operational leadership experience to the Company from a variety of international organizations. Prior to joining the Company, Oussoren served in a variety of capacities at General Electric Company, including the Global Sales Leader for GE Energy’s Membrane Technologies and Sales Leader and General Manager for GE Environmental Services in Europe, following GE’s 2004 acquisition of BHA Group Holdings, Inc. At BHA Group Holdings, Inc., Oussoren served as General Manager – Europe and member of the executive team from 1994 to 2004 following the successful sale of his personal business, SF Air Filtration AG, a leading supplier of filtration parts and components, to BHA Group. Mr. Oussoren has a mechanical engineering degree from MTS in the Netherlands, holds various international patents and completed coursework in strategic marketing and management.
About Northern Power Systems Corp.
Northern Power Systems designs, manufactures, and sells distributed power generation and energy storage solutions with its advanced wind turbines, inverters, controls, and integration services. With approximately 21 million run-time hours across its global fleet, Northern Power wind turbines provide customers with clean, cost-effective, reliable renewable energy. NPS turbines utilize patented permanent magnet direct drive (PMDD) technology, which uses fewer moving parts, delivers higher energy capture, and provides increased reliability by reducing maintenance and downtime. In the Energy Storage Solutions (ESS) segment, Northern Power develops Energy Storage Solutions (ESS) projects and deploys its FlexPhase™ power converter platform, which features patented converter architecture and controls technology for advanced grid support and generation applications.
Northern Power has been a technology innovator for over 40 years and serves clients around the globe from its US headquarters and European offices.
Source: BARRE, Vt., Aug. 07, 2018 (GLOBE NEWSWIRE) --Northern Power To learn more, visitwww.northernpower.com.