Joergen Larsen has been appointed new CEO of Eltek ASA and Colin Howe new CEO of Eltek Valere, following the resignation of Rune Finne earlier in September. The appointments take effect from 1 October, 2010.
Colin Howe (47) is currently EVP Global Sales in Eltek Valere, with responsibility for the telecom power division which is the largest business area in the company. He has over the years held a number of leading positions in Eltek Valere, including President of the Americas Region, President of the European Region and Managing Director of Eltek UK. Mr Howe joined Eltek UK as an Applications Engineer in 1989.
"Eltek faces important choices with regards to the strategic development of the company. Joergen Larsen has extensive experience from both the financial and operational side of our business, and has also earlier shown that he can provide the leadership needed to push this development forward. Colin Howe has been with the company for more than 20 years and been instrumental in the development of Eltek Valere into one of the world's leading suppliers of power solutions," says William H. Crown, Chairman of the Board in Eltek ASA.
For more information, please contact:
William H. Crown, Chairman of the Board of Eltek ASA, tel: + 1 312 543 1739
Joergen Larsen, CEO of Eltek ASA, tel: +47 905 27 930
About Eltek:
Eltek is a strategic technology partner within power solutions and microwave radio transmission, through its three business units Eltek Valere, Nera Networks and Nera Telecommunications. The company reported revenue of NOK 5.8 billion in 2009, and had close to 3,330 employees in more than 50 countries at the end of the year. Eltek is listed on Oslo Stock Exchange and headquartered in Drammen, Norway.
Eltek Valere is a technology leader developing and marketing high-efficiency (HE) power solutions for telecom and industrial applications. The company also has a growing business activity towards renewable markets, such as photovoltaic grid inverters and chargers for electric vehicles. Headquartered in Drammen, Norway, the company's global operations counts approximately 2,000 employees, and generated revenue of NOK 3.1 billion in 2009.
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