Capstone Turbine Corporation (NASDAQ:CPST): Announced An Appointment Of VP – Operations


Dallas, Texas 05/21/2014 (FINANCIALSTRENDS) – Capstone Turbine Corporation (NASDAQ:CPST) recently announced an appointment of Richard B. Lewis as its new Vice President for Operations. Mr. Lewis joined this new position effective May 12, 2014. President and Chief Executive Officer of the company, Darren Jamison mentioned that Mr. Lewis will be responsible for overall manufacturing operations at the company. Jamison also mentioned that Mr. Lewis brings an extensive experience to the company which will be valuable for Capstone’s business.

Profile Brief: Richard B. Lewis

Capstone Turbine Corporation (NASDAQ:CPST)’s new Vice President, Mr. Lewis has nearly three decades of experience in manufacturing, program management, logistics, global supply chain as well as in quality assurance. Mr. Lewis also has proven strengths in lean enterprise implementation and strategic planning. He has an excellent professional record of successfully building organizations which can deliver better growth. Mr. Lewis holds a Bachelor’s degree in Economics from the University of Massachusetts and is considered an expert at designing cutting edge supply chain solutions.

Grant of Equity Securities:

Mr. Lewis also received a grant of company’s common stockwhich are effective from May 12, 2014, day of his appointment to the company. Under the terms, Mr. Lewis received options to purchase 0.25 million shares of the Capstone Turbine Corporation (NASDAQ:CPST)’s common stock. Mr. Lewis will also be entitled for a grant of 62.5 K restricted shares. The exercise price of the options granted will bethe closing price of the company’s common stockon the NASDAQ Global Market as on May 12, 2014.

Company Brief:

Capstone is the leading producer of low emission micro-turbine systems and has shipped over 7,000 Capstone Micro-turbine systems of customers across the world. The company is the pioneer of commercially viable micro-turbine energy products. On Tuesday, the stock closed at $1.40, losing 3.45% from its previous close. The stock traded with significantly lower volumes of 4.55 million shares as compared to its 30 day average trading volume of 7.45 million shares. The stock has delivered nearly 35% negative returns over the past one month.