Steve Goldman has retired as the Chairman of Power-One, Inc., effective June 12, 2007. Mr. Goldman will continue to serve as a non-employee member of the Board. Mr. Goldman joined Power-One in 1982 as an engineer and was later promoted to Vice President of R&D, and eventually to Chief Executive Officer, where he served until February of 2006.
He was instrumental in the management buy-out of the company in 1995, the subsequent initial public offering in 1997, and six acquisitions. During his tenure, the company established itself as one of the leaders in the power supply industry and established its position as one of the first developers of digital power management technologies and products. Mr. Goldman has served as Chairman since 1990.
“It has been a privilege for me to have worked for Power-One and to serve for so many years as the Chairman. As I retire my position to spend more time with my family and other outside interests, the company is on an excellent footing, ” said Goldman in a statement. “I am absolutely confident that the management team at Power-One has made the right moves with restructuring the business and has a clear plan to get us back to profitability and make our goals in the digital power market a reality.”
Mr. Jay Walters, who has been the Lead Director on the Board, has accepted the position as the Chairman of the Board. Mr. Walters is a non-employee independent director of the company. He has been a Board member since 1999 and has extensive experience in the power industry culminating in the role of President of the Power Systems business at Lucent Technologies.
Mr. Walters commented, “On behalf of the Board, Power-One’s shareholders, and employees, I would like to thank Steve for the outstanding contribution he has made over the last 27 years. He has been instrumental in the company’s development over an extended period and a driving force for the company. We wish him well for the future, and we look forward to his continuing contributions as an ongoing member of the Board of Directors.”
