Energy Conversion Devices Inc. (ECD, Rochester Hills, MI) announced the election of three new, independent directors to its board of directors effective immediately, increasing the number of independent directors to seven. The three new directors were selected and recommended by the Compensation and Nominating Committee of the Board. The ECD Ovonics Board is now comprised of 10 members, including three inside directors. The new directors, Robert Frey, William Ketelhut and Stephen Rabinowitz, have strong track records of proven business leadership with major corporations and extensive experience in finance, technology, manufacturing and engineering, which will provide added depth to ECD Ovonics' board.
"In line with our long-standing corporate policy, our board has made a strong commitment to continuing the highest standards of corporate governance," said Robert Stempel, chairman and CEO of ECD Ovonics. "We are delighted to welcome Robert Frey, William Ketelhut and Stephen Rabinowitz as new board members. With their diverse backgrounds in business, finance and technology, each brings a wealth of experience and insight to our board, which will help us achieve our business objectives."
