Benzinga | Feb 10, 2021 07:46AM EST

Advanced Energy Announces Retirement Of President & CEO Yuval Wasserman And Appoints Stephen D. Kelley As Successor

* Steve Kelley will become Advanced Energy's new president & CEO on March 1

* Yuval Wasserman will remain as an executive advisor to the board and the new CEO through March 31, 2022

Advanced Energy Industries, Inc. (NASDAQ:AEIS), a global leader in innovative power, measurement and control technologies, today announced that Yuval Wasserman will retire as president & chief executive officer and as a member of the board, effective March 1, 2021. The board of directors has appointed Steve Kelley, a semiconductor industry leader with over 30 years of experience, as the president & chief executive officer and a member of the board, effective March 1, 2021. Mr. Wasserman will remain as an executive advisor to the board and to Mr. Kelley, to assist in the transition.