Axion Power International, Inc. Announces Board Changes
April 27, 2016 at 06:08 pm EDT
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Axion Power International Inc. announced that the company's Board of Directors appointed Richard Bogan, CEO, as its Chairman and Donald Farley, as its Vice Chairman.
The realignment is consistent with the company's traditional combination of the CEO and Chairman roles and is as a result of the transfer of leadership responsibilities to Bogan. Farley will continue to play a prominent role as Vice Chairman and will focus on strategic growth initiatives and partnering opportunities. Bogan has more than 35 years of experience in executive leadership. He was with Philip Morris Companies for 20 years, rising to Senior VP and CFO of the Miller Brewing Company subsidiary. Effective as of April 21, Stanley Hirschman resigned as a director and chairman and member of the Audit Committee of the company due to his inability to devote the time and resources necessary to continue in his role as a director. The Board appointed Michael Kishinevsky as the interim chairman of its Audit Committee.
Axion Power International, Inc. is an energy solutions company. The Company has developed carbon/lead batteries, and integrates its batteries into energy storage systems, renewable energy systems, off-grid applications, automotive and other applications. The Company sells batteries, energy storage systems and engineering services as part of its product offerings, and can assist battery end users to adapt its batteries to various applications. The Company's lead carbon (PbC) batteries and battery components have application in a range of energy storage systems. It focuses on various areas, such as power grid stabilization, micro-hybrid vehicles, hybrid commercial trucks, automated guided vehicles, and off-grid and renewable energy storage. Its PbC battery technology is a hybrid asymmetric energy storage device. The Company manufactures lead-acid batteries for sale under the Axion brand name at its Clover Lane facility in New Castle, Pennsylvania. The Company also offers the PoweCube.