PITTSBURGH, Jan. 21, 2011 /PRNewswire/ -- The Board of Directors of BPL Global®, Ltd. (BPLG), a smart grid technology company dedicated to leading the transformation of energy efficiency and reliability, announced today that it has appointed Pete Londa as acting Chief Executive Officer, succeeding Keith Schaefer.
"On behalf of the Board of Directors, I want to express our deepest thanks to Keith Schaefer as founding CEO for his vision and leadership of the company," said Sam Zacharias, Chairman. "Even as Keith leaves, BPLG achieved record levels of revenue in 2010 with the company poised for strong growth in 2011. The board has the utmost confidence in Pete Londa as acting CEO as well as the senior management team to continue on our current course of leading the transformation of energy efficiency and reliability."
"I am proud of our many and significant accomplishments over the past six years in establishing BPLG as a global leader in transforming energy efficiency and reliability solutions," said Keith Schaefer. "I leave BPLG in very capable hands with Pete and the senior team who are well prepared and ready to take the company to the next level."
BPL Global finished 2010 with 55% year-over-year revenue growth. The company signed significant new contracts in the fourth quarter of 2010 providing visibility into much of the company's 2011 revenue plan.
"We have the benefit of continuity with our senior management team, who has worked together for a number of years," said Pete Londa, acting CEO of BPL Global. "Our company vision and direction remain on course. The organization is aligned on delivering our leading smart grid solutions with solid returns on investment for our customers and capitalizing on great opportunities with our partners. The entire BPLG team is very excited about the company's opportunities in the global smart grid market."
Serving more than 100 utility customers worldwide, BPLG is a leading provider of smart grid technology from substations through customer premises. Through its Power SG® enterprise class software platform, BPLG provides first mover technology in advanced distribution automation solutions that transform how utilities manage operations. BPLG's substation solutions include our market leading transformer monitors as well as substation automation. The company's distribution solutions integrate management of grid and customer energy assets including customer load, energy storage, renewables and distributed generation.
Background on Pete Londa
Prior to his appointment as acting CEO, Pete Londa was EVP of Corporate Planning and Development for BPLG. Mr. Londa played a significant role in setting strategic direction and expanding product offerings, international presence and business capabilities. He led the company's process to develop the annual business and financial plans as well as directed company financing.
Prior to joining BPL Global, Mr. Londa was a Director for The Chart Group, L.P., in New York. There, he worked with Middle East investors to evaluate and manage direct private equity and venture capital investments in technology companies and was also responsible for advising companies on mergers and acquisitions and executing private placements. Mr. Londa also supported clients to expand their operations in the Gulf Corporation Council (GCC) countries of the Middle East. While working at The Chart Group, Mr. Londa became a board member of BPL Global representing Al-Deera Holding Company KSE: ALDEERA and advised BPL Global on several acquisitions and financings.
Prior to joining The Chart Group, Mr. Londa was the Director of Strategic Initiatives for Thoughtworks Inc., a private technology company where he assisted in developing and managing international operations in India, Australia and the United Kingdom. Mr. Londa served as part of the management team and focused his attention on strategic planning and business development.
Mr. Londa graduated with honors from Emory University where he earned his bachelor's degree in Economics. He returned to Emory where he then earned his J.D. and MBA.
About BPL Global
BPL Global®, Ltd. (BPLG) is a smart grid technology company dedicated to leading the transformation of energy efficiency and reliability. The company provides substation and distribution solutions to electric utilities enabling advanced distribution automation. With integrated management from substations through customer premises, our solutions help utilities increase efficiency and reliability to improve financial and environmental performance. BPLG partners with local utilities, communications providers, equipment suppliers and financiers to create end-to-end solutions integrating the best in software, communications, hardware and managed services to aggressively deploy our smart grid solutions around the world. Part of the clean technology sector of the electric utility industry, our applications provide the critical foundation for an integrated intelligent grid to deliver energy more efficiently and reliability for a greener environment. www.bplglobal.net
SOURCE BPL Global, Ltd.