ROCHESTER, N.Y. -- Performance Technologies, Incorporated (NASDAQ NM: PTIX), a leading developer of systems, platforms, components and software, today announced that Michael P. Skarzynski has been unanimously selected by its Board of Directors to serve as President and Chief Executive Officer, as well as a Director. In this role, Mr. Skarzynski replaces Donald L. Turrell who earlier this year announced his interest in a leadership transition in order to pursue his personal interests.
Michael Skarzynski, 49, brings over 27 years of executive experience to this new role. During 2005, he served as a senior advisor to Hudson Abel Partners, LLP, an investment bank in New York. For the previous six years, Mr. Skarzynski has led as CEO, two ventures – Xebeo, an IP broadband switch acquired by UTStarcom, Inc., and Predictive Networks, an application service provider offering a business intelligence and analytics overlay network. From 1992 to 1999, he held various executive roles at AT&T, Bell Labs and Lucent Technologies. Mr. Skarzynski served as U.S. Assistant Secretary for Trade Development in the Department of Commerce from 1989-1991, and held business development and international sales and marketing roles at Motorola, Inc. from 1985 to 1989. He holds a Masters in Business Administration degree from Northwestern University and a Bachelor of Science degree from Georgetown University.
“The Board of Directors is very pleased that Michael has joined the Company as President and CEO,” said John M. Slusser, Chairman. “Michael brings a very rich and unique background to the Company. His global operational, marketing and business development experience in the telecommunications and high technology arenas, both in larger and smaller organizations, will be a most important asset in setting the course and then steering the direction of the Company moving forward. He has a demonstrated track record of solid leadership and management skills and we are most enthused about the future of the Company under his leadership.”
“I am honored and excited to join the highly dedicated, passionate and professional team of Performance Technologies, Inc.,” said Mr. Skarzynski. “Over the coming years, the Company is well positioned to become the number one or number two global strategic supplier of embedded solutions and platforms to the world’s leading communications, military and equipment providers. I look forward to working with the team to continue to deliver to our customers high quality, innovative solutions that exceed expectations.”
Mr. Slusser further added on behalf of the Performance Technologies’ Board of Directors, “We want to thank Don Turrell for over twenty years of service to the Company. He has been a key contributor to our growth and evolution from an early stage startup to a public company with a market capitalization of over $l00 million. Don provided sure and steady management during volatile times in the telecommunications marketplace over the past several years. He will play an ongoing transition support role over the next few months and will remain on the Board as a Director.”
Performance Technologies Inc.