ROCHESTER HILLS, Mich., Oct. 15 /PRNewswire-FirstCall/ -- Energy
Conversion Devices, Inc. (ECD) (Nasdaq: ENER) today announced that Robert
C. Stempel is retiring as Chairman of the Board and a director of ECD,
effective at the company's Annual Meeting of Stockholders scheduled for
December 11, 2007. At that time, the Board of Directors intends to appoint
a successor non-executive Chairman from the directors elected at the annual
meeting.
"On behalf of ECD's employees and directors, I want to thank Bob for
his contributions and leadership," said Mark D. Morelli, President and
Chief Executive Officer of ECD. "He helped develop a technology foundation
upon which we are building a solid, commercial enterprise and driving to
sustainable profitability. We wish him all the best in his retirement."
Stempel, 74, has been Chairman of the Board since December 1995. In
August 31, 2007, he retired as ECD's Chief Executive Officer. He was the
Chairman and Chief Executive Officer of General Motors Corporation from
1990- 1992.
About Energy Conversion Devices
ECD is the leader in the synthesis of new materials and the development
of advanced production technology and innovative alternative energy
products and solutions. The Company's portfolio of alternative energy
solutions and proprietary information processing technologies features the
latest advances in solar energy generation, phase-change memory and other
alternative energy technologies. The Company's wholly owned subsidiary,
United Solar Ovonic, is the world's largest manufacturer of thin-film
amorphous silicon photovoltaic solar panels for converting sunlight into
electricity. ECD holds the basic patents in its fields. More information on
the Company is available at http://www.ovonic.com.
SOURCE Energy Conversion Devices, Inc.
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Related links:
http://www.ovonic.com/
CONTACT:
Ghazaleh Koefod, Investor Relations, Energy
Conversion Devices, Inc., +1-248-293-0440
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