Power Air Announces Additional Management Changes and Additions Centralizes Senior Executives at Corporate Headquarters in Northern California
2008-04-01 08:24:00
Power Air Announces Additional Management Changes and Additions
Centralizes Senior Executives at Corporate Headquarters in Northern California
LIVERMORE, CA–( EMWNews – April 1, 2008) – Power Air Corporation (
power company, today announced further changes and new additions to its
executive management team, all of whom will now be centralized in the
Company’s corporate headquarters in Livermore.
As noted in a related Form 8-K recently filed with the U.S. Securities and
Exchange Committee, until such time as the formal CEO search is
successfully concluded, the Board of Directors appointed H. Dean Haley,
founder and Chairman of the Board, to the Chief Executive Officer post. In
addition, Don Prest, who had served as the Company’s Chief Financial
Officer operating out of Vancouver, B.C., resigned from Power Air in late
January. The Board appointed Alan G. Campbell as Interim CFO, replacing
Prest, who left to focus solely on his professional interests at Manning
Elliott LLP where he has served as Assurance Partner since 1983.
In addition, Power Air reported that Dr. Al Sylwester, a long standing
technology advisor to the Company and a member of the Board of Directors,
has joined the senior executive team as Vice President and Chief Technology
Officer, responsible for overseeing the Company’s product development
efforts. Dr. Sylwester will report directly to Haley.
“As we prepare to transition from a development stage company into a fully
operational, revenue generating organization, given the impending
commercialization of our ZPAC 40 Zinc Air Powerpack, we felt it was
essential to centralize key members of our management team all under one
roof in Livermore so that we are able to optimize mission critical
initiatives more efficiently. We’d like to thank Don for his financial
leadership over the past several years and wish him continued success with
his audit and accounting practice,” stated Haley.
Continuing, Haley noted, “We are delighted to welcome Alan as our new
Interim CFO, whose financial accounting expertise will serve Power Air well
as we persist in executing our exciting business plan. Moreover, Al’s
expanding role with our Company is already having positive impact on the
direction and execution of our short and long term product development
roadmaps.”
About Alan Campbell
A versatile, results-oriented senior executive with proven entrepreneurial
skills and Fortune 100 experience and training, Campbell joins Power Air
from B2B CFO, where he serves as a Partner and specializes in providing
financial, tax and accounting consulting services to a broad range of
private companies. Previously, he was the owner of The Entrepreneur’s
source, a consulting and coaching service for individuals exploring
franchise opportunities. Prior posts also included Senior Vice President
of Flathead Solutions, a start-up telecommunications product and service
company; EVP and Chief Operating Officer of Paragon Electronic Systems,
Inc., an electronics manufacturing service company; Vice President and
Corporate Controller of NetWireless, a $35 million distributor of cellular
phones; Vice President and Corporate Controller of Altron Systems
Corporation, a leading contract manufacturer of interconnect products used
in advanced electronic equipment; Vice President and CFO of Astrio
Corporation, a manufacturer of complex surface mount assemblies that was
acquired by Altron; and Interim CFO of R.W. Babcock Insurance Brokerage.
Campbell has also held other management positions at Xidex Corporation,
Memorex Corporation, IBM/General Products Division and Berkeley Scientific
Laboratories, and has earned considerable corporate governance experience
serving as a past or current board member of several companies that have
included Wilkins Tethered Communications, Inc. (current board member);
Wireless Warehouse, Inc., WW Wireless, Inc.; RW Babcock Insurance Brokerage
and Astrio Corporation. Campbell is a graduate of the University of
California, Berkeley where he earned Bachelors of Science degrees in both
Business Administration and Electrical Engineering, and where he has
completed the course work for an MBA in Finance.
About Dr. Al Sylwester
Dr. Al Sylwester has provided technical consulting services to Power Air
for nearly two years and has served on the Company’s Board of Directors
since April 2007. He brings more than 20 years of technology development
and business leadership experience to Power Air. He previously served as
President, CTO and Chairman of Nanodetex Corporation, a leader in chemical
microsystems technology, and as Chairman of the Board for Energy Materials
Corporation, a developer of next generation materials for fuel cells.
Prior to starting Nanodetex, Dr. Sylwester was an Energy Programs Manager
at Sandia National Labs, where he led development of chemical microsystems,
fuel cells, catalysts and materials for energy applications. He brings
extensive experience and key relationships with energy technology
companies, universities and government agencies. From 1998 to 2004, he
served on the Governing Board of Directors for the Council for Chemical
Research (CCR), a national organization of executives from industry,
academia and government agencies which he chaired in 2004. He is also the
author or co-author of more than a hundred publications and presentations
and a co-inventor of more than 10 patented technologies, with several
additional patents pending. Dr. Sylwester has a Ph.D. in Chemistry from the
California Institute of Technology.
About Power Air Corporation
Headquartered in Livermore, California with offices and research facilities
in Vancouver, Power Air is a forward-thinking clean energy company engaged
in commercializing proprietary, high performance Zinc Air Fuel Cell
(ZAFC)-based products for the mobile electronics, portable and stationary
power generation, light mobility and transportation markets. Power Air
holds the exclusive worldwide license for the development and
commercialization of products utilizing ZAFC technology pioneered through
an extensive joint collaboration effort with Lawrence Livermore National
Laboratory and the United States Department of Energy. For more
information, please visit www.poweraircorp.com.
This press release includes statements that may constitute
“forward-looking” statements, usually containing the words “believe,”
“estimate,” “project,” “expect” or similar expressions. These statements
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements inherently
involve risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to, acceptance
of the Company’s current and future products and services in the
marketplace, the ability of the Company to develop effective new products
and receive regulatory approvals of such products, competitive factors,
dependence upon
third-party vendors, and other risks detailed in the Company’s periodic
report filings with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to update
these statements for revisions or changes after the date of this release.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: ELITE FINANCIAL COMMUNICATIONS GROUP, LLC Dodi Handy CEO Or Daniel Conway Chief Strategist 407-585-1080 email: |
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