By Pittsburgh Business Times

Smart Grid technology company BPL Global Ltd. said Friday that founding CEO Keith Schaefer is leaving the company and Executive Vice President of Corporate Planning and Development Pete Londa will step into the role of acting CEO.

⿿Even as Keith leaves, BPLG achieved record levels of revenue in 2010 with the company poised for strong growth in 2011,⿝ said company Chairman Sam Zacharias in a written statement. ⿿The board has the utmost confidence in Pete Londa as acting CEO as well as the senior management team to continue on our current course of leading the transformation of energy efficiency and reliability.⿝

The company serves more than 100 utility customers around the world and provides software and services that make companies and consumers more energy efficient. In a statement, the company said it finished 2010 with 55 percent year-over-year growth. During a presentation in September, then-CEO Schaefer said the six-year-old company had about $50 million in revenue.

⿿I am proud of our many and significant accomplishments over the past six years in establishing BPLG as a global leader in transforming energy efficiency and reliability solutions,⿝ Schaefer said in a written statement. ⿿I leave BPLG in very capable hands with Pete and the senior team who are well prepared and ready to take the company to the next level.⿝

Copyright 2011 American City Business Journals

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