– USA, MA – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management service firm, today announced it has named Peter Londa Chairman of the Board. The Company also announced the re-election of Edward Libbey and Sean Sweeney as Directors, and the appointment of John C. Fox as a new Director, each for a three-year term. These changes went into effect on June 23, 2014.
“Since his appointment in March 2014 as a Director, Peter Londa has demonstrated strong leadership and a keen interest in our business,” said Edward Libbey, Director and outgoing Chairman. “He has already proven himself to be a valuable asset to the Company, one committed to growing World Energy and creating shareholder value.”
Mr. Fox currently serves as Senior Managing Director at Perseus, a merchant bank and private equity fund management company, and brings to his work at World Energy more than 30 years’ experience in the energy industry. He replaces John Wellard, who served on the Board as a Director for eight years.
Prior to joining Perseus, Mr. Fox was Chief Operating Officer of Ontario Power Generation, Inc. (formerly Ontario Hydro), where he was responsible for generation, transmission, distribution and retailing for one of the largest electric utilities in North America. From 1981 to 1992, he held various management positions at Pacific Gas and Electric Company (PG&E) in San Francisco, CA, including Manager, Energy Efficiency Services. During 1992, he served as the Head of the Energy Efficiency Task Force, President George H.W. Bush’s Commission on Environmental Quality.
“We are delighted to welcome John C. Fox to the Board of World Energy,” said Peter Londa, Chairman of the Board, World Energy Solutions. “His depth and breadth of experience in the energy industry make him an ideal addition to our Board, underscoring our commitment to refreshing and strengthening our Board with leaders who demonstrate an unyielding commitment to increasing shareholder value. The entire Board looks forward to working alongside management to ensure World Energy is recognized for driving technology innovation in the energy management services sector, creating a dynamic culture to attract and retain necessary talent, and delivering value to our shareholders.”
Added Phil Adams, CEO, World Energy Solutions: “At this time, the Company would like to thank Edward Libbey for his valuable service as Chairman of the Board, a tenure during which he helped guide the Company from its initial public offering in 2006 to becoming the leader in energy management services it is today. Edward has committed significant time and attention in support of World Energy, and we look forward to his continued involvement as a Director on our Board. Further, we would also like to thank John Wellard for his invaluable contributions and stewardship throughout his eight-year tenure as a Director.”
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) is an energy technology and services firm transforming energy procurement and energy efficiency for commercial, industrial, institutional, government and utility customers. The Company’s award-winning, cloud-based auction platform, the World Energy Exchange®, its team of energy experts, and a network of more than 500 suppliers and 300 channel partners form an ecosystem that enables customers to minimize their total cost of energy. To date, World Energy has transacted over $45 billion in energy, demand response and environmental commodities, creating more than $3 billion in value for its customers.
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