Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

United States

United States

AMSC founder and CEO to step down

UNITED STATES: American Superconductor (AMSC) has announced the retirement of chief executive and founder Gregory Yurek.

Yurek is set to be replaced by current chief operating officer and president Daniel McGahn on June 1. Yurek will continue as chairman until the company’s annual meeting in August.

He will continue to serve as an advisor to the company for the next two years.

The reshuffle follows a difficult time for AMSC. In April, it was revealed that its biggest customer Sinovel had refused to accept and pay for contracted shipments of wind turbine components.

Additionally, several class-action lawsuits have been filed against AMSC alleging securities fraud by the Massachusetts-based company and some of its officials.

Yurek said: "The past 24 years have been challenging, exhilarating and rewarding. Together with a great team at AMSC, we have been a superconductor technology pioneer and evolved into a dynamic power technologies company.

"Having worked with Dan for nearly five years, I am confident in his ability to lead the company through today’s obstacles and into another era of growth."

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs

[DAYS_LEFT] DAYS Subscribe Now

Left of your Windpower Monthly free trial

Your free trial Subscribe Now

to Windpower Monthly has expired