ROCHESTER HILLS, Mich., Sept. 26 /PRNewswire-FirstCall/ -- Energy
Conversion Devices, Inc. (ECD Ovonics) (Nasdaq: ENER) today announced the
appointments of two new independent directors to its Board of Directors,
Pasquale Pistorio, the retired President and Chief Executive Officer of
STMicroelectronics, and George A. Schreiber, Jr., President and Chief
Executive Officer of SEMCO Energy, Inc.
With these additions, ECD Ovonics Board of Directors now has eight
members, six of whom are independent directors.
"We are extremely pleased to announce the addition of Pasquale and
George to our Board and look forward to the unique experience, insight and
leadership they will bring," said ECD Ovonics Chairman and Chief Executive
Officer Robert C. Stempel.
Pasquale Pistorio, 70, after a long and successful career with Motorola
(1967-1980), returned to Italy in 1980 to take the helm as President and
CEO of SGS Microelectronica (which merged with France's Thomson
Semiconducteurs in 1987 and is now STMicroelectronics). Under his
leadership, STMicroelectronics became one of the top companies in the
semiconductor industry. Upon his retirement in March 2005, he was named
honorary chairman of STMicroelectronics.
Schreiber, 58, joined SEMCO Energy, a natural gas distribution company
serving markets in Michigan and Alaska, as its President and CEO in March
2004. From September 1999 to March 2004, he was the Chairman, Global Energy
Group, at Credit Suisse First Boston, New York, in charge of the firm's
energy, utility and power businesses. Schreiber received an MBA from
Arizona State University in 1971 and was inducted in the College of
Business Hall of Fame, Arizona State University, in 2000.
About ECD Ovonics
ECD Ovonics is the leader in the synthesis of new materials and the
development of advanced production technology and innovative products. It
has invented, pioneered and developed its proprietary, enabling
technologies in the fields of energy and information leading to new
products and production processes based on amorphous, disordered and
related materials. The Company's portfolio of alternative energy solutions
includes Ovonic thin-film amorphous solar cells, modules, panels and
systems for generating solar electric power; Ovonic NiMH batteries; Ovonic
hydride storage materials capable of storing hydrogen in the solid state
for use as a feedstock for fuel cells or internal combustion engines or as
an enhancement or replacement for any type of hydrocarbon fuel; and Ovonic
fuel cell technology. ECD Ovonics' proprietary advanced information
technologies include Ovonic phase-change electrical memory, Ovonic
phase-change optical memory and the Ovonic Threshold Switch. ECD Ovonics
designs and builds manufacturing machinery that incorporates its
proprietary production processes, maintains ongoing research and
development programs to continually improve its products and develops new
applications for its technologies. ECD Ovonics holds the basic patents in
its fields. More information on the company is available on
http://www.ovonic.com .
This release may contain forward-looking statements within the meaning
of the Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are based on assumptions which
ECD Ovonics, as of the date of this release, believes to be reasonable and
appropriate. ECD Ovonics cautions, however, that the actual facts and
conditions that may exist in the future could vary materially from the
assumed facts and conditions upon which such forward-looking statements are
based. The risk factors identified in the ECD Ovonics filings with the
Securities and Exchange Commission, including the Company's most recent
Annual Report on Form 10-K could impact any forward-looking statements
contained in this release.
SOURCE Energy Conversion Devices, Inc.
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Related links:
http://www.ovonic.com
CONTACT:
Ghazaleh Koefod, Investor Relations, or Dick
Thompson, Media Relations of Energy Conversion Devices, Inc.
+1-248-293-0440
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