Northern Power Systems Corp., a next-generation renewable energy technology company and turbine manufacturer, has announced that as it makes progress toward concluding the monetization of its utility wind technology, the company will be realigning its leadership to focus its future on delivering business solutions for a range of distributed energy customers.
As part of this transition, the board of directors has decided to eliminate the office of chief executive and form an office of the president and chief operating officer. With this decision, Troy C. Patton will no longer be CEO, effective immediately, but will remain a member of the company’s board.
Ciel R. Caldwell, the company’s current senior vice president of operations and finance, will assume leadership of Northern Power, as the president and chief operating officer, while continuing to serve as the company’s principal financial officer.
Chairman of the Board William Leimkuhler comments, “We thank Troy for his commitment and leadership, as we built Northern to pursue an integrated utility and distributed wind strategy based on our proprietary [permanent magnet direct-drive] technologies. We are fortunate that Troy will continue to lead the company in a successful conclusion of a transaction monetizing our utility wind assets, as well as to advance other corporate development opportunities as an advisor to Northern.”
Caldwell states, “We have a unique opportunity to create value by transitioning to a lean start-up mentality focused on delivering solutions for a variety of customers that can benefit from distributed energy solutions, leveraging our robust technology background and proven offerings.”
Northern Power Systems currently manufactures the NPS 60 and NPS 100 wind turbines and boasts over 11 million run time hours across its global fleet.
