Capstone Turbine Appoints Shelby Ahmann as Senior Vice President, Customer Service
CHATSWORTH, Calif.--
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading manufacturer of microturbine energy systems, announced today that Shelby Ahmann has joined Capstone Turbine as Senior Vice President of Customer Service.
Mr. Ahmann most recently served as Vice President of Global Services for the Power Advantage Group of Northern Power Systems, Inc. Prior to joining Northern, Mr. Ahmann was Vice President of Crown Engineering & Construction (CEC). In addition, Mr. Ahmann has held progressively responsible engineering positions for organizations in the Portland and Seattle areas.
"We are very pleased to have Shelby join the Capstone management team as he brings to Capstone a wealth of experience in successfully developing and managing national and international energy programs and services," said Darren Jamison, President and CEO of Capstone Turbine Corporation. "Filling the Customer Service position with an industry veteran is a critical element of my 100 Day Plan for Capstone. I am confident that with his extensive experience, Shelby will help us to create a world-class customer service organization focused on fulfilling the needs of all our customers and increasing revenues through expanding service contracts to current and prospective Capstone customers around the world," added Jamison.
In addition to the other terms of his employment with Capstone Turbine Corporation, Mr. Ahmann will receive a 10 year stock option grant to purchase 650,000 shares of the common stock of the Company. Conditioned on continued employment, the right to exercise the option will become 25% vested after one year and, thereafter, will become vested pro rata each month over the next 36 months. The exercise price for options granted to Mr. Ahmann will be the fair market value of Capstone's common stock at the close of the market on April 2 which was the date of the grant. In addition, Mr. Ahmann will receive a restricted stock unit grant of 150,000 shares of the Company's common stock that will become 25% vested after each year of service over four years.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com; NASDAQ:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped thousands of Capstone MicroTurbine(TM) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Mexico City, Milan, Nottingham, Shanghai and Tokyo.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about an expanded customer service program for Capstone. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
Source: Capstone Turbine Corporation
Released April 3, 2007
