Active Power names new CEO

|About: Active Power, Inc. (ACPW)|By:, SA News Editor

Active (ACPW) has hired Mark Ascolese, currently the chairman of electrical infrastructure software vendor Power Analytics, to be its new CEO, effective Oct. 14. Ascolese will take over from chairman Ake Almgren, who has been serving as interim CEO since J. Douglas Milner's July resignation. (PR)

The appointment comes less than a month after Active shares tumbled thanks to a Q3/2013 warning and the company's disclosure a Chinese distributor isn't affiliated with major local IT services firm Digital China (as was previously announced).