Enecsys Appoints New CEO In Shake Up
Enecsys Limited has appointed Michael (Mike) J. Fister to the position of Chief Executive Officer and Board Member. He replaces Henrik Raunkjaer effective August 22, 2011. The company has not revealed the cause for Raunkjaer's exit despite him leading the company in what appeared a positive direction.
Raunkjaer joined Enecys less than a year ago and led the company to a Series B £25m fundraising which was one of the industry's largest at the times. Most industry observers only became aware of his departure when his replacement was announced.
Fister joins Enecsys with over 30 years of experience in leading technology companies including five years as CEO of the publicly-listed EDA software company, Cadence Design Systems, Inc. where he was responsible for growing the company from $1.1 billion to $1.6 billion in annual revenue, while substantially improving the financial performance of the company. Prior to that he spent over 20 years with Intel Corporation where he most recently served as senior VP and GM of the Enterprise Platforms group reporting to the CEO. Here he was responsible for growing Intel's Solutions Business with revenue of approximately $3 billion for high-performance processor lines, server chipsets, board-level products and related software tools. He drove the development and adoption of industry-standard server and server blade technology with strategic partners as well as establishing the high-performance computing category using industry standard processors.
"We selected Mike as the CEO of Enecsys because of his strong technical vision, his drive to understand and meet customer needs and his leadership skills that will be key to achieving our vision and growth strategy," stated Executive Chairman, Mossadiq S. Umedaly. "Mike has the experience and skills necessary to make Enecsys micro inverters a world leading product and Enecsys into a world leading solar inverter company."
"I am honoured to be selected by Enecsys to lead the team and to execute its growth strategy," said Fister. "Enecsys has solved one of the most challenging problems in solar PV by developing micro inverters that harvest more energy and are as reliable and long-lasting as solar modules to which they are connected, without adding cost. I strongly believe that the Enecsys patented micro inverter will help accelerate the adoption of solar electricity around the world by lowering the cost per harvested KWh."
