Energy Focus Names New Chief Financial Officer
31 July 2007 - 10:30PM
PR Newswire (US)
Berchtold to Enhance Global Reach of Efficient Lighting Products
SOLON, Ohio, July 31 /PRNewswire-FirstCall/ -- Energy Focus, Inc.
(NASDAQ:EFOI), formerly Fiberstars, Inc. (NASDAQ:FBST), a global
leader in energy efficient lighting, today announced the
appointment of Nicholas G. Berchtold as Vice President of Finance
and Chief Financial Officer. Mr. Berchtold brings two decades of
financial and transactional experience at both large and small
manufacturing and public infrastructure industries where he was
responsible for multi-national operations. "We are extremely
pleased to have an executive of Nick's caliber join our senior
management team," said John Davenport, president and CEO of Energy
Focus. "His proven track record as a strong financial leader with
skills to ensure fiscal responsibility and aggressively manage
costs, while supporting the growth of a global technology business,
will prove highly valuable to Energy Focus. His arrival is yet
another link in the continued strengthening of Energy Focus' senior
management team which is keenly pursuing its goals of growing
revenue, profitability and increasing shareholder value. Prior to
joining Energy Focus, Berchtold was the Division Controller for
Wellman Products Group, a division of Hawk Corporation with annual
revenues exceeding $200 million where he directed the finance,
information technology and accounting functions. In his seven years
at Wellman, Berchtold instituted a number of cost reduction
programs which improved labor productivity and operating
performance. Previously, Berchtold held financial positions with
Olympic Steel and Caliber Systems, which was acquired by Federal
Express in 2000. Mr. Berchtold commented, "I am thrilled to be a
member of the Energy Focus family and look forward to driving
profitability into this business while introducing our tremendous
EFO(R) technology to the world. I feel confident that my twelve
years of financial leadership at publicly-traded companies combined
with an intense passion for operational excellence will allow me to
contribute to Energy Focus in a wide array of areas. Energy Focus
is an exciting business with tremendous potential and I look
forward to contributing to its growing success in the global
marketplace." In his new position, Berchtold will continue the
strict financial disciplines put in place by Bob Connors, who is
stepping down to return to California, where he has spent most of
his career. Bob was instrumental in moving Energy Focus operations
from California to Solon, Ohio initiated two years ago and has
played an important role in making that transition a smooth and
successful one. "We are grateful to Bob for his contributions to
Energy Focus over the past nine years and, in particular, his role
in completing acquisitions, facilitating financings and most
recently, successfully implementing SOX 404 compliance," said
Davenport. "We wish him the best in his future endeavors." About
Energy Focus, Inc. Energy Focus, Inc. (NASDAQ:EFOI) is the leading
supplier of fiber optic lighting and the world's only supplier of
EFO(R), a lighting technology which is more efficient than
conventional electric lamps. Energy Focus products are designed,
manufactured and marketed for the commercial lighting, sign and
swimming pool, and spa markets. Energy Focus fiber optic lighting
provides energy savings, aesthetic, safety and maintenance cost
benefits over conventional lighting. Customers include supermarket
chains, retail stores, fast food restaurants, theme parks and
casinos, hotels, swimming pool builders, spa manufacturers and many
others. Company headquarters are located at 32000 Aurora Rd.,
Solon, OH 44139. The Company has additional offices in Pleasanton,
CA, United Kingdom and Germany. For more information, see
http://www.energyfocusinc.com/. Forward-looking statements in this
release are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include statements regarding the goals
and business outlook for 2007 and thereafter and expected benefits
of Mr. Berchtold's service to the Company. Investors are cautioned
that all forward-looking statements involve risks and
uncertainties. Actual results may differ materially from the
results predicted. Risk factors that could affect the Company's
future include, but are not limited to, a slowing of the U.S. and
world economy and its effects on Energy Focus' markets, failure to
develop marketable products from new technologies, failure of EFO
or other new products to meet performance expectations,
unanticipated costs of integrating acquisitions into the Energy
Focus operation, delays in manufacturing of products, increased
competition, other adverse sales and distribution factors and
greater than anticipated costs and/or warranty expenses. For more
information about potential factors which could affect Energy Focus
financial results, please refer to the Company's SEC reports,
including its Annual Report on Form 10-K for the year ended
December 31, 2006, and its quarterly reports on Form 10-Q. These
forward-looking statements speak only as of the date hereof. Energy
Focus disclaims any intention or obligation to update or revise any
forward-looking statements. DATASOURCE: Energy Focus, Inc. CONTACT:
Alanna Gino of Antenna Group, +1-415-977-1918, , for Energy Focus,
Inc. Web site: http://www.energyfocusinc.com/
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