U.S. Geothermal to seek new head with departure of current CEO
San Emidio geothermal power plant, Nevada (source: U.S. Geothermal)
Alexander Richter
25 Apr 2017
Developer and operator, U.S. Geothermal has announced that it is to seek a new CEO with the imminent departure of current CEO, Dennis Gilles.
U.S. Geothermal Inc. announced that the Company will not extend the employment agreement for CEO Dennis Gilles beyond its current term expiring on July 18, 2017 and are discussing a role for Mr. Gilles as an outside advisor to the Company after his agreement expires.
“It has been an honor to work with the talented employees of U.S. Geothermal these past 4 years. The Company is on a strong growth path as it continues to execute on its available development projects and examine numerous strategic opportunities. I look forward to being an ongoing part in that growth story as an outside advisor to the Company,” said Mr. Gilles.
“Dennis has overseen our three operating plants at fantastic capacity factors and set the Company up for expansion at its development projects. We thank him for his service,” said John H. Walker, Chairman of the Board.
“It has a been a pleasure working with Dennis over the past four years and I look forward to working on the Executive Committee to identify an outstanding CEO and keep the company moving forward with its growth plan,” said Doug Glaspey, President and Chief Operating Officer.
The Board of Directors has established an Executive Committee that, in addition to overseeing the search for a new CEO, will guide the company on key strategic initiatives and capital allocation.
Source: company release by email
