LYNNFIELD, Mass. (April 17, 2006) — GreenMan Technologies Inc. has named Lyle Jensen president and CEO, replacing Robert Davis, who resigned to pursue other interests.
GreenMan said that as part of efforts to reduce corporate overhead it will relocate its headquarters to the Midwest over the next several months to wherever Mr. Jensen decides upon. The company has facilities in Savage, Minn., and Des Moines, Iowa, and also an operation in Azusa, Calif.
“I look forward to working more closely with our senior management team to accelerate the turnaround and financial restructuring of GreenMan as well as accelerate our efforts to explore strategic alternatives to increase shareholder value,” Mr. Jensen said in a prepared statement. “I am up to the challenge and ready to get started.”
Mr. Jensen, formerly chair of the company's audit committee, will continue as a member of the board of directors. Nicholas DeBenedictis, an independent director, will serve as GreenMan's interim audit committee chair.
“Lyle has been one of our toughest critics with regards to balance sheet management and multi-site operational checks and balances,” said GreenMan Chairman Maury Needham. “His breadth of operational experience, business acumen and leadership skills make him an excellent choice to lead GreenMan as we begin a new chapter in our history.”