Power-One has announced that Mr. Steve Goldman has retired as the company's Chairman. Mr. Goldman will continue to serve as a non-employee member of the Board. Mr. Goldman joined Power-One in 1982 as an engineer and was later promoted to Vice President of R&D, and eventually to Chief Executive Officer, where he served until February of 2006. Mr. Goldman has served as Chairman since 1990.
Mr. Jay Walters, who has been the Lead Director on the Board, has accepted the position as the Chairman of the Board. Mr. Walters is a non-employee independent director of the company. He has been a Board member since 1999 and has extensive experience in the power industry culminating in the role of President of the Power Systems business at Lucent Technologies.