ENFIELD, Conn., Aug 05, 2010 (BUSINESS WIRE) --
STR Holdings, Inc. (NYSE: STRI) today announced the appointment of two
independent directors, Robert M. Chiste, 62, and Dr. Uwe Krueger, 45, to
its Board of Directors.
Robert M. Chiste is an Executive in Residence with the Silicon Valley
venture capital firm El Dorado Ventures, where he leads the firm's
cleantech activities. He served as Chairman, President and CEO of
Comverge, Inc. (NASDAQ:COMV) from 2001 until his retirement last year.
As a private investor, he co-founded technology systems management
solutions provider TriActive, Inc., on-demand fuel industry software
provider FuelQuest, Inc., and internet industrial products auction
company iMark, Inc. Mr. Chiste was Vice Chairman, President and CEO of
publicly traded Allwaste, Inc., a provider of industrial, energy and
environmental services and was founder, President and CEO of American
National Power, Inc., a subsidiary of Transco Energy Company. Mr. Chiste
currently serves on the board of directors of AisRe and TriActive, Inc.
He also has served on the boards of FuelQuest, Inc., Franklin Credit
Management Corp., Innovative Valve Technologies, Inc., and Pentacon,
Inc. Mr. Chiste received a B.A. in mathematics from the College of New
Jersey and J.D. and M.B.A. degrees from Rutgers University.
Dr. Uwe Krueger served from 2007 to 2009 as CEO of Oerlikon Group, a $4
billion Swiss company, whose six business units included a solar
division. He began his career at the international strategy consulting
firm A.T. Kearney, followed by several positions at Hochtief AG, a $14
billion international provider of construction services, airport
management, contract mining and real estate development services. Posts
at Hochtief AG included Senior Vice President and Chairman of Turner
International (a subsidiary of Hochtief AG); CEO of Central Eastern
Europe; Senior Vice President of Corporate Development and Vice
President and Controller. He currently serves on the advisory board of
San Diego-based Zementis, Inc. and is President of Cleantech
Switzerland, a Swiss export platform that provides support to companies
in the area of sustainability on behalf of the Swiss Federal Government.
Previous board memberships include several Oerlikon and Hochtief
associated entities in the U.S., Europe and Asia. Dr. Krueger received
his undergraduate degree in chemistry and business administration and
his PhD in complex system theory and brain research from the University
of Frankfurt. He also worked on various research assignments including
projects at Columbia University and Ecole Normale Superieur, Paris.
Mr. Chiste will serve on the audit committee as the third independent
member as required by SEC and NYSE standards. Dr. Krueger will serve on
the nominating and corporate governance committee as an independent
Dennis L. Jilot, STR's Chairman, President and Chief Executive Officer,
stated, "We are delighted to add this impressive talent and experience
to our Board. Both Bob and Uwe have CEO-level experience and specific
expertise in the cleantech, solar and service industries. We look
forward to benefiting from the strategic, entrepreneurial and technical
talents they will bring to both STR Solar and STR Quality Assurance with
their global perspectives."
About STR Holdings, Inc.
STR Holdings, Inc. is a leading global provider of high quality,
superior performance solar encapsulants to the photovoltaic module
industry. It is also one of the world's leading providers of consumer
product quality assurance testing, audit, inspection and responsible
sourcing services, which help ensure that suppliers and retailers have
the highest level of confidence in the quality and safety of their
products and in the social standards of the supply chain producing them.
Further information about STR Holdings, Inc. can be obtained via the
Company's website at www.strholdings.com.
This press release may contain certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current information and
expectations, and are subject to risks and uncertainties discussed in
Company filings with the Securities and Exchange Commission, which could
cause the Company's actual results to differ materially from expected
results. The Company undertakes no obligation to publicly update any
forward-looking statement contained in this release, whether as a result
of new information, future developments or otherwise, except as may be
required by law.
SOURCE: STR Holdings, Inc.
STR Holdings, Inc.
Joseph Radziewicz, 860-749-8371
Controller and Principal Accounting Officer