Advanced Energy names Thomas Liguori CFO

Advanced Energy Industries Inc. (Nasdaq: AEIS) has named Thomas Liguori as the company’s new chief financial officer and executive vice president.

Liguori, chief financial officer and executive vice president at Irvine, Calif.,-based Multi-Fineline Electronix Inc., starts the new position May 18. Advanced Energy, based in Fort Collins, makes precision-power and solar products.

Along with a new hire bonus of $200,000, Liguori will receive an annual base salary of $400,000 and is eligible for additional compensation, according to a company filing with the U.S. Securities and Exchange Commission.

Liguori replaces Danny Herron, former chief financial officer of AE who resigned last year, along with CEO Garry Rogerson and solar-unit president Gordon Tredger. The company’s precision-power products sector has grown while its solar division has struggled. Advanced Energy has sought to sell its solar inverter business.

Liguori brings more than 30 years of experience in finance and operations and has spent the last 15 years as CFO of public companies. In his seven years at MFLEX, he built a global finance organization during a period of significant growth and change for the tech company, according to Advanced Energy.

He has also served as the chief financial officer at Hypercom Inc., Iomega Corporation, Channell Commercial Corp. and Dole Europe for Dole Food Company. He has held other financial management positions at Teledyne Inc., Honeywell and Deloitte & Touche LLP.

In 2014, Advanced Energy earned $47 million, up from $32 million in 2013. The company posted $583.1 million in sales in 2014, up from $547 million during 2013.

on Facebook on LinkedIn