Lineage Power Names Craig A. Witsoe Chief Executive Officer
1 year 11 months ago → People
DALLAS (Sept. 29, 2008) -- Lineage Power Corporation, a Gores Group company, and the most trusted provider of energy-efficient AC/DC and DC/DC switching technologies, today announced that its board of directors has named Craig A. Witsoe as the new chief executive officer. Witsoe will be based at the companys Dallas headquarters and will report to the board of directors.
Witsoe recently served as president and chief executive officer of Tyden Group, a leading producer of product identification and cargo security technology. At Tyden, Witsoe globalized operations while driving growth through new product introductions and global sales expansion.
Previously, Witsoe spent 16 years as an executive at General Electric, where he most recently served as president and general manager of GE Specialty Film and Sheet, a $500 million business headquartered in the Netherlands with 700 employees. Under his leadership, GE Specialty Film and Sheet launched multiple innovative technology platforms, delivering double-digit profitable growth. Previously, Witsoe served as president of GE Lighting & Appliances Asia-Pacific, based in Shanghai, China. In this 5,500 employee operation with $250 million in local sales and $1 billion in export sales, Witsoe led a turnaround of the business with sustained profitable growth in all countries.
“We are pleased to have someone of Craigs caliber join the company,” said Tim Meyer, Lineage Power chairman. “His impressive track record, strong leadership and customer focus, combined with his private equity experience, make him an ideal fit for this position. Through Craigs leadership, Lineage Power will grow its position in the industry by satisfying customer needs for reliable, high-performance, energy-efficient power solutions.”
Witsoe stated, “Im eager to partner with the Gores Group to drive profitable growth at Lineage Power. With its heritage of industry leading design and engineering capabilities, powerful product portfolio, blue chip customers and committed employees, I believe we are well positioned to capitalize on the current market opportunities. I look forward to helping the company reach its full potential.”
Witsoe earned his masters degree in business administration and engineering management from Northwestern Universitys Kellogg School of Management. He received his bachelors degree in mechanical engineering from the University of Illinois, Champaign-Urbana. Witsoe and his wife, Katie, will be relocating with their five children to the Dallas area.
About Lineage Power Corporation
Lineage Power Corporation, a Gores Group company, has an 80+ year history as the industrys most trusted provider of reliable and innovative power conversion solutions. The companys solutions include energy-efficient AC/DC and DC/DC switching technologies, backed by global, world-class field expertise, service and support. Lineage Power provides blue chip customers from a variety of industries with optimal solutions to meet their needs and create marketplace advantages. A global company with 40 locations in 10 countries, Lineage Power is based in Dallas with more than 1,600 employees. For more information on Lineage Power, visit www.lineagepower.com.
About The Gores Group, LLC
Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm's current private equity fund has committed equity capital of $1.7 billion. Headquartered in Los Angeles, Calif., The Gores Group, LLC maintains offices in Boulder, Colo. and London. For more information, please visit www.gores.com.
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Source: Lineage Power
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