Lamoreux Replaces Artusi at ColdWatt

June 24, 2007 by Jeff Shepard

The board of directors for ColdWatt, Inc. has appointed Joe Lamoreux, currently ColdWatt’s vice president of Operations, as the interim chief executive officer for the company. Lamoreux replaces Daniel Artusi, who has accepted a position of president and chief executive officer at Conexant Systems Inc. His first day with Conexant will be Monday, July 9, 2007. Atrusi will become a member pf Conexant’s board of directors and will continue to serve in an advisory capacity to the ColdWatt board of directors.

Lamoreux’s proven track record and experience in scaling ColdWatt’s operational capabilities to deliver products that meet the stringent requirements of tier 1 OEMs, will be important as the company continues to ramp up production of its products. Lamoreux has more than 24 years of operations, engineering and management experience, including senior positions at Valence Technology, Dell Computer, Compaq Computer and IBM.

“I am delighted to lead such an accomplished team that has converted strong intellectual property into products shipping in significant volume in such a short period of time,” said Joe Lamoreux, newly-appointed CEO for ColdWatt. “We would like to thank Dan for his contributions and for shaping a talented team whose execution has garnered a number of customers in a variety of markets. We will continue our strategy of investment in R&D to advance ColdWatt’s strong product roadmap and innovative approach to helping solve our customer’s energy efficiency issues. The entire team is committed to drive this company forward and execute for continued success.”

Krishna Srinivasan, a member of ColdWatt’s board of directors and partner at Austin Ventures, reiterated the board’s steadfast support for ColdWatt and its customers. “All the investors are deeply committed to ColdWatt and its success,” said Srinivasan. “We are especially impressed by the technical and management prowess that has resulted in ColdWatt’s impressive traction with large demanding customers, and are delighted about the strategic direction of the company.”

Artusi, who will continue as an advisor to the board, said, “ColdWatt’s technology leadership and products are built on a deep pool of technical and operational talent. ColdWatt is in a very strong position with customers today and has a very exciting roadmap. I am confident that the team will continue to drive the company from success to success.”