BOISE, Idaho, July 13, 2017 (GLOBE NEWSWIRE) --
U.S. Geothermal Inc. (the “Company”) (NYSE MKT:HTM), a leading and
profitable renewable energy company focused on the development,
production, and sale of electricity from geothermal energy, today
announced that the Company’s Board of Directors has appointed Douglas J.
Glaspey as Interim Chief Executive Officer, effective July 19, 2017.
Mr. Glaspey will also continue to serve as the Company’s President and
Chief Operating Officer.
The Company also
announced that it has entered into a six-month agreement with current
Chief Executive Officer, Dennis J. Gilles, to serve as an Executive
Advisor to the Company, effective at the conclusion of Mr. Gilles’
current employment agreement, which expires on July 18, 2017.
“On
behalf of the entire Board of Directors, we would like to extend our
gratitude and thanks to Dennis for his outstanding contribution to the
company over the past 6 years as a Member of our Board of Directors, as
well as the past 4 years as CEO, and we are very pleased to appoint Doug
as the Company’s Interim CEO,” said John H. Walker, Chairman of the
Board. “As one of the Founders of U.S. Geothermal, we believe Doug’s
extensive knowledge of the Company and geothermal industry experience,
will prove valuable as our previously announced Executive Committee
continues in the search process for a permanent CEO.”
