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Echelon Announces Appointment Of Bill Slakey As EVP And CFO; Chris Stanfield To Retire After 22 Years Of Service

Stocks in this article: ELON

Echelon Corporation ( NASDAQ: ELON) today announced the appointment of Bill Slakey to the position of executive vice president and chief financial officer (CFO), effective November 7, 2011. Slakey will succeed Oliver “Chris” Stanfield, Echelon executive vice president and chief financial officer, who will retire but will stay through a transition period. In addition, Echelon announced that C. Michael Marszewski has been appointed principal accounting officer reporting to Slakey.

"We're very excited to welcome Bill to the Echelon team," commented Ron Sege, chairman and CEO, Echelon. "With his financial acumen, solid operational background and strategic insight, Bill will be a key asset as we continue to scale the company and extend our worldwide operations."

“Chris’ tenure delivered excellent financial stewardship, ensuring a ‘built to last’ company. On behalf of the board of directors and Echelon’s team members, I thank Chris for his contributions and wish him the best,” said Sege.

Slakey is a seasoned executive with over 20 years of experience establishing and improving company and financial operations. Slakey previously served as CFO at leading public companies including Extreme Networks, Handspring, Inc. and WJ Communications, and at successful private technology firms including LiveOps, SnapTrack, Inc., and Tropos Networks. Slakey has also held senior financial positions at Palm Computing, 3Com Corporation and Apple Computer.

About Echelon Corporation

Echelon Corporation ( NASDAQ: ELON) is the world’s leading open-standard energy control networking company. Echelon technologies connect more than 35 million homes, 300,000 buildings and 100 million devices to the smart grid, and help customers save 20% or more on their energy usage. With more than 20 years of experience in energy control, Echelon delivers a wide range of innovative solutions to commercial and electric utility customers. More information about Echelon can be found at http://www.echelon.com.

Echelon and the Echelon logo are registered trademarks of Echelon Corporation registered in the United States and other countries. Other product or service names mentioned herein are the trademarks of their respective owners.

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