Performance Technologies Inc. on Thursday selected its new president and CEO. Michael Skarzynski, who succeeds Donald Turrell, began his new job Thursday.
PTI names Skarzynski to CEO slot
Performance Technologies Inc. today selected its new president and CEO.
Michael Skarzynski succeeds Donald Turrell who, in February, announced his plan to leave his leadership role at PTI to pursue personal interests. Skarzynski begins his new job Thursday.
In the spring, the company formed a succession committee to interview internal and external candidates to replace Turrell. Earlier this year, Turrell told the Rochester Business Journal that there were people internally at PTI who expressed interest in the post, but he did not identify them.
Skarzynski, 49, also joins PTIâ€™s board. He last served as a senior adviser to Hudson Abel Partners LLP, a New York City-based investment bank. Skarzynski previously served as CEO of two ventures: Xebeo Communications Inc., an IP broadband switch company acquired by UTStarcom Inc., and Predictive Networks Inc., an application service provider offering a business intelligence and analytics overlay network.
â€œOver the coming years, the company is well-positioned to become the No. 1 or No. 2 global strategic supplier of embedded solutions and platforms to the worldâ€™s leading communications, military and equipment providers,â€ Skarzynski said.
Skarzynski said he was honored to join the company.
â€œMichael brings a very rich and unique background,â€ PTI chairman John Slusser said. â€œHis global operational, marketing and business development experience in the telecommunications and high-technology arenas, both in larger and smaller organizations, will be a most important asset in setting the course and then steering the direction of the company moving forward.â€
From 1992 to 1999, Skarzynski held executive roles at AT&T Corp., Bell Labs Corp. and Lucent Technologies Inc.
Skarzynski also served as U.S. Assistant Secretary for Trade Development in the U.S. Department of Commerce from 1989 to 1991 and held business development and international sales and marketing roles at Motorola Inc. from 1985 to 1989.
In statement issued today, Slusser commended Turrell for his 20 years at the company.
â€œHe has been a key contributor to our growth and evolution from an early stage startup to a public company with a market capitalization of over $l00 million. Don provided sure and steady management during volatile times in the telecommunications marketplace over the past several years. He will play an ongoing transition support role over the next few months and will remain on the board.â€
Shares of PTI stock (Nasdaq: PTIX) were trading midday at $7.93, down from Wednesdayâ€™s close of $8.02.
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