Wasserman to lead Advanced Energy

FORT COLLINS – Yuval Wasserman, president of Advanced Energy Industries’ precision power products division, has been promoted to president and chief executive effective today, the company said in a media statement.

Wasserman succeeds Garry Rogerson, who had been CEO since August 2011. He had informed the board last spring that he wanted to step down but would stay on until a replacement was named. Rogerson called Wasserman “an outstanding choice,” adding that “I have seen firsthand his ability to manage a global and diversified business.”

A 30-year veteran of semiconductor and electronics industries, Wasserman joined Advanced Energy in August 2007 as senior vice president for sales, marketing and service. He previously was president and CEO of Tevet Process Control Technologies Ltd., a semiconductor metrology company. Prior to that, he held senior executive and management positions at Boxer Cross Inc., Fusion Systems and AG Associates. He holds a bachelor’s degree in chemical engineering from Ben Gurion University in Israel.

“Since joining Advanced Energy, Yuval has been instrumental in enabling the company to become one of the most efficient and productive organizations in the industry,” said Dick Beck, chairman of the board of directors of Fort Collins-based Advanced Energy (Nasdaq: AEIS), in the media statement. “His passion and decades of management and industry experience have afforded him an unparalleled understanding of the opportunities and challenges Advanced Energy faces. He has earned the respect of the entire organization as well as the board of directors, making him ideally suited to lead the company into its next stage of growth and return value to shareholders.”

Advanced Energy produces power and control technologies for thin-film manufacturing and high-growth solar-power generation.