Advanced Energy Announces Departure of Chief Financial Officer; Appoints Interim CFO

FORT COLLINS, Colo., Dec. 28, 2017 (GLOBE NEWSWIRE) -- Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced that Thomas Liguori, Executive Vice President and Chief Financial Officer, is resigning effective January 26, 2018 to pursue another opportunity. Tom McGimpsey, currently Executive Vice President and General Counsel, will assume the additional role of CFO on an interim basis. Mr. McGimpsey has been with Advanced Energy for 8 years and has worked closely with Mr. Liguori. Mr. Liguori will assist in the transition of responsibilities until his departure date while the company conducts a formal search for a new CFO.  There are no issues involving the Company’s financial statements, internal controls or financial reporting procedures that led to Mr. Liguori’s departure.

“After much consideration, I have made the decision to leave Advanced Energy to pursue a career opportunity,” said Mr. Liguori. “I want to thank Yuval for the opportunity to serve as his CFO. It has been a pleasure to be part of the Advanced Energy team and I wish them continued success in the future.”

Yuval Wasserman, President and Chief Executive Officer of Advanced Energy, commented, “On behalf of everyone at Advanced Energy, I’d like to thank Tom for his contributions during his tenure and wish him the very best in his new position.”

About Advanced Energy

Advanced Energy (NASDAQ:AEIS) is a global leader in innovative power and control technologies for high-growth, precision power solutions for thin films processes and industrial applications. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy and the Advanced Energy logo are trademarks of Advanced Energy Industries, Inc. or one of its Affiliates in the United States and elsewhere.

About Advanced Energy

Advanced Energy Industries, Inc. (Nasdaq: AEIS) is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial production, medical and life sciences, data center computing, networking and telecommunications. With engineering know-how and responsive service and support for customers around the globe, the company builds collaborative partnerships to meet technology advances, propels growth of its customers and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA.

For more information, visit www.advancedenergy.com.

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