WILMINGTON, Del., Nov. 15, 2012 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN), today announced that Christopher E. Clouser was elected Chairman of the Board by a unanimous vote of his fellow Directors on Tuesday, November 13, 2012.
Mr. Clouser also serves as Chairman of the International Tennis Hall of Fame and Museum in Newport, Rhode Island. Prior to his current positions, he was President of the Association of Tennis Professions (ATP), where he also served as Chairman of ATP Properties and Chair of the ATP Foundation. He has served on the corporate Boards of Directors of Piper Jaffray Inc., Gibson Guitar/Baldwin Corp., Mall of America, Pepsi Americas, Marquette Bancshares, Delta Beverage and Mesaba Aviation. In addition Mr. Clouser was Co-Chairman of the Advisory Board of Transamerica Retirement Management (TRM)."I believe a great Chairman and Board of Directors is a tribute to the power of a company's vision and opportunity. Chris Clouser is a proven business leader and can help us accelerate the growth of our portfolio companies. He has an international reputation for success and relationships at the highest levels of our global governments, financial services companies and our potential customers. I am excited to learn from him and to work with him to benefit our shareholders and customers," said John Moore, President & CEO, Acorn Energy. Mr. Clouser has held senior level positions including: President of Burger King Brands; President and CEO of Preview Travel/Travelocity; CEO of the Minnesota Twins Major League Baseball Club; Senior Vice President & Chief Communications Officer of Northwest Airlines; Corporate Vice President of Public Affairs and Communications of Hallmark Cards; and Senior Vice President and Chief Administrative Officer of Sprint. " Chris Clouser is an outstanding business executive with successful experience in a wide variety of industries. He will partner with CEO John Moore to ensure the achievement of Acorn Energy's great potential," said Ed Woolard former Chairman and CEO of DuPont and Chairman of Conoco Phillips, now Senior Advisor to Acorn Energy. "I am excited about the opportunities and challenges presented as a result of being named Chairman of the Board of Acorn Energy. It is my belief that Acorn and its portfolio companies are poised to become segment leaders in the coming world of digital energy. My responsibility is to assist our CEO John Moore and ensure that Acorn continues to provide the means for all of the companies to reach the corporate goals we have mapped for them," stated Mr. Clouser, Chairman Acorn Energy. About Acorn Energy, Inc. Acorn Energy, Inc., the digital energy company, is a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management. The four businesses in which we have controlling interests, improve the world's energy infrastructure by making it: more secure - providing security solutions for underwater energy infrastructure (DSIT); more reliable - providing condition-based monitoring to critical assets on the electric grid (GridSense, OmniMetrix) and more productive and efficient - increasing oil and gas production while lowering costs through use of permanent ultra-high sensitive seismic tools that allow for a more precise picture of reservoirs (US Seismic). For more information visit: http://www.acornenergy.com. Safe Harbor Statement This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that Acorn Energy, Inc. or its operating companies will continue to grow their respective businesses, or that any of them will meet the expectations or execute the initiatives described or referred to above. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally and the businesses of its subsidiaries is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K and its most recent 10-Q as filed by the Company with the Securities and Exchange Commission. Investor & Press Contact: Paul G. Henning Cameron Associates (212) 554-5462 Paul@cameronassoc.com
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