Capstone Turbine Corp. announced Friday that Frederick Hencken III has been appointed as chief financial officer.
Hencken had been the interim chief financial officer of the Van Nuys micro-turbine manufacturer since October. He will continue to serve as chief accounting officer, a position he has held since April.
He replaces Jayme Brooks, who left the company at the end of September and took a similar position with Limbach Holdings Inc., a Pittsburgh mechanical systems provider.
Capstone Chief Executive Darren Jamison said that Hencken brings more than 18 years of finance and operational experience to his new position, as well as experience in the technology industry and in mergers and acquisitions.
“Eric’s excellent performance as Capstone’s controller and chief accounting officer, and most recently as interim chief financial officer, has prepared him well for this new expanded role as (our) chief financial officer and he brings a principled and engaging approach,” Jamison said in a statement.
Prior to joining the company as controller in October 2017, Hencken had been involved in finance and accounting with InnoVista Sensors, a brand of Crouzet Automatismes SAS in Valence, France.
“I'm committed to helping the company build on its recent momentum, and believe we can achieve our stated goal of achieving positive adjusted EBITDA in the June 2020 quarter and build a sustainable and profitable business to support our long-term growth plans,” Hencken said in a statement.
Shares of Capstone (CPST) closed Friday down 15 cents, or 4 percent, to $3.65 on the Nasdaq.