SAN DIEGO, March 17, 2015 /PRNewswire/ — Maxwell Technologies today announced that the company and Kevin S. Royal, Senior Vice President and Chief Financial Officer, have agreed that Mr. Royal, following six years of significant contribution to the company, will step down from his position during 2015.
"The company and board of directors are grateful to Kevin for his service and for his willingness to stay on through the succession process." said Dr. Franz Fink, President and CEO. "I am confident we have a strong management team focused to capitalize on the opportunities we see in the years ahead."
"My tenure with Maxwell has been rewarding, and I am proud to have played a part in guiding the company through the early adoption and initial growth period for our ultracapacitor products." Royal said.
An executive search for a Chief Financial Officer is underway, and Royal will remain active in his current role until a successor is named and an effective transition is planned and initiated.
Royal joined Maxwell as Senior Vice President, Chief Financial Officer, Treasurer and Secretary in April 2009.
