Tuesday, October 18, 2011

Active Power Loses CEO

Austin-based Active Power, the developer of flywheel based, backup power systems, said this morning that Jim Clishem has resigned as President, CEO, and as a member of the company's board, and has been replaced by Jan Lindelow. According to Active Power, Clishem is leaving the firm to "pursue other interests." Lindelow will serve as Interim President and CEO; he has been on Active Power's board for 13 years, and was previously Chairman and CEO of Tivoli, before IBM acquired Tivoli, eventually becoming IBM's Vice President of Emerging Business Development. The company said it has engaged an executive search firm to find a new CEO.