Leading
wave energy technology company Ocean Power Technologies announced the
appointment of Mark A. Featherstone to the position of Chief Financial Officer,
effective as of December 12th, 2013. Featherstone, 52, is a seasoned executive
with 30 years of experience working with capital markets, regulatory and accounting
matters, treasury management, and strategic alliances.
“We
are very pleased to have Mark Featherstone join OPT as we embark on our next
stage of expansion and commercial development,” stated Chief Executive Officer
of Ocean Power Technologies, Charles F. Dunleavy. “Mark has years of experience
at organizations both large and small, across a wide spectrum of product
categories, and is well suited to help lead OPT in the years to come. With the
Company pursuing many commercialization opportunities across the globe, we will
certainly benefit from Mark’s expertise in strategic planning, financial
management, and capital markets activity. Mark is dedicated to improving
shareholder value, and we welcome him to the senior management team at this
important time in our growth trajectory.”
Before
joining Ocean Power Technologies, Featherstone previously spent over ten years
at Quaker Chemical Corporation in the role of Vice President, CFO, and
Treasurer. While at Quaker, a multinational company with over $700 million in
annual revenue, Featherstone led all global finance-related functions including
treasury, corporate development, financial planning, investor relations, and
internal audit. While there he also managed a significant equity offering, a
debt refinancing and several acquisitions. Prior to Quaker, Featherstone spent
a number of years at Coty, the world’s largest mass-market fragrance company
and at Scott Paper, now part of Kimberly-Clark Corporation, in a series of
financial and accounting positions. Prior to that he worked at Arthur Andersen
& Company. Featherstone has been responsible for the financial reporting of
a number of product lines, raised both debt and equity, assisted in the
restructuring of operations leading to better financial results, and in
addition has overseen mergers, acquisitions, and divestitures.
Featherstone
is a Certified Public Accountant and earned a Master of Business Administration
degree from Drexel University and a Bachelors degree from Pennsylvania State
University.
For
more information, please visit www.oceanpowertechnologies.com
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