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Monday, April 24, 2017

USA, Idaho: U.S. Geothermal Searching for New CEO

U.S. Geothermal Inc. Announces CEO Update and Establishment of an Executive Committee of the Board (News Release)

U.S. Geothermal Inc. today announced that the company will not extend the employment agreement for CEO Dennis Gilles beyond its current term expiring on July 18, 2017 and are discussing a role for Mr. Gilles as an outside advisor to the company after his agreement expires.

"It has been an honor to work with the talented employees of U.S. Geothermal these past 4 years. The company is on a strong growth path as it continues to execute on its available development projects and examine numerous strategic opportunities. I look forward to being an ongoing part in that growth story as an outside advisor to the company," said Mr. Gilles.

The Board of Directors has established an Executive Committee that, in addition to overseeing the search for a new CEO, will guide the company on key strategic initiatives and capital allocation.

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