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Global Power Equipment Group Announces Leadership Changes

Stocks in this article: GLPW

IRVING, Texas, Sept. 26, 2013 (GLOBE NEWSWIRE) -- Global Power Equipment Group Inc. (Nasdaq:GLPW) ("Global Power") announced today leadership appointments for the business units that will comprise the Company's Products and Solutions segments effective at the end of the year for reporting purposes. The Products Division will include the Auxiliary Products and Electrical Solutions product lines. The Services Division becomes Nuclear Services and Energy Services business units. The realignment is intended to establish Global Power as a solutions-oriented and customer-centric organization.  

"The realignment of Global Power is critical to achieving our goal of doubling revenue and operating margin over the next three to five years.  With our acquisitions, we have new capabilities, a broader product offering and the critical mass that enables this realignment. We are implementing lean processes and taking cost out of the business.  We expect the broad commercial experience and deep expertise of this energized leadership team will leverage new opportunities to expand our penetration into the natural gas growth trend," commented Luis Manuel Ramírez, President and Chief Executive Officer of Global Power. 

Penny Sherrod-Campanizzi has been appointed President of the Electrical Solutions product line that will be comprised of Koontz-Wagner and IBI. Ms. Sherrod-Campanizzi joined Global Power in 2010 as Chief Operating Officer of our Services Division, then served as Senior Vice President of Operations and Support and was named President of Energy, Parts and Control Solutions for the Products Division in November 2012. She has over 30 years experience in the power generation industry including leadership roles at Babcock and Wilcox.

John A. Durkee will join the organization as President of the Auxiliary Products product line within the Products Division effective October 1, 2013. Auxiliary Products will be comprised of filter houses, inlet and exhaust systems, diverter dampers, SCRs and other products associated with the historic Braden business. Mr. Durkee brings over 25 years of global experience in the energy sector, most recently providing engineering services to industrial and power generation markets with an emphasis on U.S. utilities.  Prior to joining Global Power, he managed the North American Power and Industrial Engineering and Construction Services business of SNC Lavalin. Prior thereto, he was President at Brand Energy and Infrastructure Services where he oversaw and implemented strategic and tactical growth initiatives. Previously, Mr. Durkee spent 15 years in progressively challenging roles within GE Energy. 

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