~ Bill Larkin Appointed to Vice President, Corporate Development ~
VANCOUVER, June 5, 2014 /CNW/ - Westport Innovations Inc. (TSX:WPT /
NASDAQ: WPRT), engineering the world's most advanced natural gas engines
and systems, today announced that Ashoka Achuthan has been appointed
as Chief Financial Officer (CFO) of Westport. Bill Larkin has been
appointed to Vice President, Corporate Development, focusing on
strategic initiatives and investments, and development agreements that
will contribute to Westport's financial growth.
Ashoka has been with Westport since November 2013 as Executive Vice
President, Finance Operations. In this role, he oversaw all operational
finance activities within Westport, including financial management of
ongoing business operations as well as investments; financial planning,
forecasting and reporting; and developing and tracking key performance
metrics. Prior to joining Westport, he was CFO at CODA Holdings Inc.
between 2011 and 2013, where he held full responsibility for all
financial management aspects of the company including the initial
public offering filing, organizational readiness for vehicle launch,
supply chain management, and development of the battery based power
storage business. His career includes over 20 years with Siemens in
Asia, Europe and North America. His last position at Siemens was
Executive Vice President and CFO of Siemens VDO Automotive Inc. where
he helped drive profitability and grow the business from $1.2 billion
to $3.2 billion in revenues between 2000 and 2005. Ashoka has also held
roles as CFO at Cooper Power Systems Inc. between 2005 and 2008; CFO at
ATC Technologies Corp between 2008 and 2010; and the CFO at Key
Plastics LLC in 2010. Ashoka earned a Bachelor of Science degree from
the University of Bombay, an MBA from Case Western Reserve University,
and is a Chartered Accountant.
"Ashoka brings with him over 30 years of financial management and
operational experience in industrial, automotive, and power systems
businesses," said David Demers, Chief Executive Officer of Westport.
"He played a critical role in improving our operational results in the
last six months, leading efforts to reduce costs and prioritize product
The shift to Vice President, Corporate Development, leverages Bill's
extensive financial and industry knowledge to focus on strategic
initiatives, and to help maximize the financial outcome for Westport
from development agreements with global OEM partners. In addition, Bill
will play a key role in targeting the right investment opportunities to
ensure the best possible results to increase Westport's share in the
global market for natural gas engines and vehicles.
"Bill's knowledge of our business, strong leadership skills, and
financial expertise will help Westport focus its efforts on the right
investments, strategic alliances, and OEM partnerships," stated Demers.
Westport engineers the world's most advanced natural gas engines and
vehicles. More than that, we are fundamentally changing the way the
world travels the roads, rails and seas. We work with original
equipment manufacturers (OEMs) worldwide from design through to
production, creating products to meet the growing demand for vehicle
technology that will reduce both emissions and fuel costs. To learn
more about our business, visit westport.com, subscribe to our RSS feed, or follow us on Twitter @WestportDotCom. visit our website or subscribe to our RSS feed at www.westport.com, or follow us on Twitter @WestportDotCom.
Note: This document contains forward-looking statements about Westport's
business, operations, technology development or the environment in
which it operates, which are based on Westport's estimates, forecasts
and projections. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to
predict, or are beyond Westport's control. Consequently, readers should
not place any undue reliance on such forward-looking statements. In
addition, these forward-looking statements relate to the date on which
they are made. Westport disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE: Westport Innovations Inc.
For further information:
Vice President, Investor Relations & Communications