(Source: Business Wire)
ZBB Energy Corporation (NYSE AMEX: ZBB) announced today that Robert
Parry has notified the company's Board of Directors of his intent to
retire in 2010 as President and Chief Executive Officer of ZBB after his
successor is elected and a successful transition has been completed. A
committee of the Company's Board of Directors has been formed to begin
an immediate search for a successor.
ZBB Chairman Bill Mundell stated, "On behalf of the Board of Directors,
we sincerely appreciate Rob's leadership, dedication, and intensity over
the past decade or more in keeping ZBB firmly focused on the objective
of commercializing our unique and proprietary energy storage technology.
We respect and understand Rob's wish to retire at this time and we
appreciate his flexibility to work with a successor and with the Board
to effect a very successful leadership transition. Rob's advance notice
and flexibility in terms of timing and transition, gives us the time and
resources to attract the right external candidate and to position that
person for continued success in leading ZBB into an exciting future."
Upon retirement as CEO Mr. Parry will continue to serve as a Director
and will focus special attention on International market developments.
About ZBB Energy Corporation
ZBB Energy Corporation (NYSE AMEX: ZBB)
provides clean energy storage solutions based on proprietary zinc
rechargeable energy storage technology that addresses requirements in
multiple markets such as alternative energy applications, large
electrical utilities and green residential and commercial architecture.
A developer and manufacturer of its modular, transportable and
environmentally friendly Zinc Energy Storage Systems ("ZESS"), ZBB
Energy was founded in 1998 and is headquartered in Wisconsin with
offices also located in Perth, Western Australia.
Safe Harbor
Except for the historical information contained herein, the matters set
forth in this press release, including the description of the company
and its product offering, are forward-looking statements within the
"safe harbor" provision of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are subject to risk and
uncertainties that may cause actual results to differ materially,
including historical volatility and low trading volume of our stock, the
risk and uncertainties inherent in the early stages of growth companies,
the company's need to raise substantial additional capital to proceed
with its business, risks associated with competitors, and other risks
detailed from time to time in the company's most recent filings with the
Securities and Exchange Commission. These forward-looking statements
speak only as of the date hereof. The company disclaims any intent or
obligation to update these forward-looking statements.
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