CAMARILLO, Calif., Aug. 16, 2010 (GLOBE NEWSWIRE) -- Power-One, Inc. (Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced that it has accepted the resignation of its Senior Vice President, Finance and Chief Financial Officer, Linda C. Heller. Ms. Heller joined Power-One two years ago as part of the senior management team recruited by Richard Thompson, President and CEO, to assist him in returning the Company to profitability. Ms. Heller has decided to leave Power-One to pursue other interests, including her involvement with charitable work, and to spend more time with her family. Ms. Heller's resignation is effective as of August 13, 2010.
"I have truly enjoyed working with Power-One over the last two years," said Ms. Heller. "Through the team's efforts, I believe the company is well-positioned for continued market share gains and profitability."
Power-One also announced today that, effective August 16, 2010, Gary R. Larsen will join the Company as the Senior Vice President, Finance and Chief Financial Officer. Mr. Larsen has over twenty years of experience serving in various financial positions with publicly traded companies. Most recently, he served as CFO of AuthenTec, Inc., a provider of security identity management and touch control solutions, since December 2006, and successfully led the company's initial public offering in 2007. Prior to joining AuthenTec, Mr. Larsen served as the CFO of Artesyn Technologies, Inc., a global power conversion and embedded systems manufacturer from May 2005 until November 2006, and he served as Artesyn's Controller from May 1999 until April 2005. Mr. Larsen also held various financial positions with W.R. Grace & Co., from April 1988 until April 1999, and was with KPMG Peat Marwick LLP prior to joining W.R. Grace.
Mr. Larsen holds a BS in Finance and Accounting from State University of New York at Buffalo and an M.B.A from New York University.
"We wish Linda success in her future endeavours and thank her for her contribution to Power-One," commented Richard Thompson. "I am also pleased to welcome Gary to Power-One. His experience will add significant value to the company as we expand both the Power and Renewable Energy businesses," continued Mr. Thompson.
About Power-One
Power-One designs and manufactures energy-efficient power conversion and power management solutions, including inverters for alternative/renewable energy (solar and wind) and products for routers, data storage and servers, wireless communications, optical networking, semiconductor test equipment, industrial markets and custom applications. Power-One, with headquarters in Camarillo, California, has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is a public company listed on NASDAQ under the ticker symbol PWER. For more information about the Company, please visit www.Power-One.com.
The Power-One, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7338