Akeena Solar Strengthens Management Team
Akeena Solar, Inc. (Nasdaq:AKNS), a leading installer and manufacturer of solar power systems, has appointed Gary Effren, currently CFO, to the position of President and named Margaret Randazzo, currently controller, as Chief Financial Officer effective today.
Gary Effren, CFO, Promoted to President
Dec. 14, 2009 (GLOBE NEWSWIRE)
"Business activities at Akeena have expanded well beyond the residential installation work we began in 2001," said Barry Cinnamon, CEO of Akeena Solar. "As we expand our distribution activities of Andalay panels, which includes developing our installer network throughout the U.S., selling to installers and distributors worldwide, and establishing a retail beachhead with Lowe's, our operations are becoming more diverse and require an expanded management team. It is therefore a natural time for me to delegate more of the day-to-day operational responsibilities to proven Akeena executives with successful track records at much larger companies.
"Since joining Akeena as CFO in 2007, Gary has put in place a top-notch financial and accounting team, enhanced our financial processes and systems to support a larger company and steered Akeena to a substantially stronger financial position," continued Cinnamon. "Over the past year he has assumed a greater operating role in the company, managing our purchasing, installation activities and back office operations. Margaret has been an important part of our financial team since the beginning of 2009, and has stepped up to manage all aspects of our accounting and SEC financial reporting, including tax, treasury, budgeting, internal financial controls, audit and risk management activities. She is eminently qualified and ready to assume all of the CFO responsibilities seamlessly."
