Flux Power Appoints New CFO
Ronald Dutt, Financial Executive with 25 Year Track Record for Leading Companies through Growth Joins Executive Team
ESCONDIDO, Calif., Jan. 8, 2013 /PRNewswire/ -- Flux Power® Holdings, Inc. (OTCQB: FLUX), a fully reporting company and an innovator in durable, scalable, and affordable advanced energy storage systems, today announced that it has selected Ron Dutt as the company's new Chief Financial Officer with responsibility for financial operations, reporting and accounting. Mr. Dutt brings more than 25 years of experience in strategic and financial management to Flux Power, with a track record for building companies for growth and leading companies through transitions.
Mr. Dutt has successfully led the financial performance of public and private companies from early stage to revenues exceeding $1 billion. He has served as CFO for a number of companies including SOLA International, Directed Electronics, DHL, and Fritz (now a UPS division). He was also SVP Finance at Visa and provided financial strategy leadership to John Saar Properties, Center for Sustainable Energy, Tyga-Box Systems, and XP Vehicles "I am excited to be a part of Flux's future. The company has the potential to grow faster than any business I have experienced," said Dutt.
"We are delighted to add someone of Ron's caliber to our leadership team. He is a talented senior executive with deep financial knowledge, operational expertise, and a solid track record of success," said Chris Anthony, CEO of Flux Power. "As we accelerate our strategic growth initiatives to build out a superior portfolio of advanced energy storage solutions, I am confident that Ron will play an integral role driving our business model in the near term and strengthening Flux's long-term financial foundation."
Mr. Dutt is an active board member of Rising International and a board advisor for Tyga-Box Systems. He earned an MBA from the University of Washington and an AB degree in chemistry from the University of North Carolina.
About Flux Power
Flux Power designs, develops, and sells cost efficient advanced energy storage systems. Incorporated in October 2009, Flux Power began shipping prototype products in the second quarter of 2010 while continuing to develop its intellectual property portfolio. Currently, Flux Power's product offerings include batteries in various sizes and forms, packaged modules, fully tested and validated advanced energy storage systems and various system accessories. These accessories include: stand-alone battery management, stackable chargers, programming software and display systems. Flux Power sells modular advanced energy storage products through distributors and directly to original equipment manufacturers. These customers benefit from Flux Power's advanced systems technologies, which greatly extend cycle life and improve system performance. For more information visit www.FLUXpwr.com or email info@FLUXpwr.com.
This release contains certain "forward-looking statements" relating to the business of the Company. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Further the forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Such forward-looking statements include, among other things, regulatory incentives, the development of new business opportunities, and projected costs, revenue, profits and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission and available on its website (www.sec.gov).
Flux, Flux Power and associated logos are trademarks of Flux Power Holdings, Inc. Other company and product names may be trademarks of their respective owners.
SOURCE Flux Power Holdings, Inc.
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