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Ormat Technologies Inc Declares Dividend; Announces Board Changes

Tuesday, 5 Nov 2013 05:46pm EST 

Ormat Technologies Inc announced that the Board of Directors approved a payment of a quarterly dividend of $0.04 per share. The dividend will be paid on December 4, 2013 to shareholders of record as of closing of business on November 20, 2013. The Company also announced that Mrs. Yehudit (Dita) Bronicki, the Company's Chief Executive Officer (CEO), has decided to retire from her position of CEO, effective June 30, 2014, the current expiration date under her employment contract, thus starting an orderly leadership transition over the next 8 months. Mrs. Bronicki will continue to serve as a director of the Company following her planned retirement as CEO. The Company further announced that Mr. Gillon Beck has decided to step down from his position of chairman of the board of directors of the Company, also effective June 30, 2014 and that the board of directors has elected and appointed Mr. Yoram Bronicki as the succeeding chairman, with such appointment being effective June 30, 2014. Mr. Beck will continue to serve as a director of the Company after he steps down from his position as chairman. Upon assuming the position of the chairman of the board Mr. Yoram Bronicki will relinquish his position as President and Chief Operating Officer of the Company. The board of directors has established a search committee to assist the Board in conducting the process of choosing Mrs. Bronicki's successor. 

Company Quote

0.06 +0.22%
17 Apr 2014