Advanced Energy Industries Inc. (AE) says that Richard P. Beck plans to retire from his position as chairman, as he will not stand for re-election to the board at the 2015 annual meeting of shareholders scheduled for May 7.
Beck will serve the remainder of his term as director and chair of the nominations and governance committee until the annual shareholders' meeting.
‘[Beck] has played a critical role as a member of the board of directors over the last 20 years and as chairman over the last year. [He] originally joined the company as its chief financial officer in 1992 and was instrumental in taking it public in 1995,’ says Yuval Wasserman, the company's president, director and CEO.
According to AE, Terry Hudgens has been appointed the new chairman of the board. A seasoned business executive, Hudgens has been a company director since 2010. Previously, he served as president and CEO of Iberdrola Renewables' U.S. and Canadian energy businesses.