Orion Energy Systems, Inc. announced the retirement of Mike Altschaefl, Orion's Board Chair, effective November 10, 2022.Company announced that Mike Jenkins will join Orion's Board, effective November 10th, to serve an initial term through the Company's 2023 annual meeting. Mike Jenkins is an accomplished executive leader with a strong track record of business and financial achievement built over more than 25 years. He joined Orion last year as part of a long-term strategic leadership and planning process and was selected to serve as CEO based on his significant leadership, operational, and sales and marketing skills and contributions.

Mr. Altschaefl will continue to serve on Orion's Board of Directors following his retirement through the Company's 2023 annual meeting of shareholders and, thereafter, may provide consulting services to the Company until December 31, 2023. Orion's lead independent director, Anthony L. Otten, will assume the role of Orion's independent Board Chair immediately following the Company's 2022 annual shareholders meeting, August 4th. Mr. Otten has served on Orion's Board since August 2015 and as lead independent director since June 2017.

His experience as a public company CEO and business leader, combined with his capital markets experience, merger and acquisition experience, and contributions to Orion's Board make him well qualified to serve as Board Chair. Mr. Jenkins served for eight years as the Construction and Consumer Business Director, General Manager – Americas of Bostik, Inc., an industrial adhesive and sealing products provider with over $2.4B in annual sales. Mr. Jenkins was directly responsible for the full profit and loss statement (P&L) of a several hundred-million-dollar business with six manufacturing plants and over 400 associates across North America.

During his tenure, revenue nearly tripled, as he worked to transform the business into a systems provider. He identified strategic acquisitions, performed due diligence, negotiated and closed several acquisitions, integrated the businesses without disruption and created numerous cross-selling opportunities to accelerate growth. He also instilled a performance-driven culture based on a common vision and helped build Bostik brand recognition through innovative and disruptive marketing campaigns focused on key specifiers (Architects, Engineers and Designers).

Previously, Mr. Jenkins served in various sales and marketing leadership roles with Kohler Company, Master Lock and Illinois Tool Works.