Flux Power Holdings, Inc. Announces Board and Committee Changes
May 11, 2020 at 03:07 pm
Share
On May 6, 2020, James Gevarges notified the Board of Directors (the “Board”) of Flux Power Holdings, Inc. of his resignation as a director of the Board of the Company effective immediately. Mr. Gevarges’ resignation was not due to a disagreement with the Company, its operations, policies, or practices but due to personal matters. On May 7, 2020, the Board appointed John A. Cosentino, Jr. to the Company’s Board. In addition, Mr. Cosentino was appointed as a member of the Company’s Audit Committee, Compensation Committee and the Nominating and Corporate Governance Committee. Mr. Cosentino will serve as the chairperson of the Nominating and Corporate Governance Committee. John A. Cosentino, Jr., age 70. Mr. Cosentino has been a director of Sturm, Ruger & Company, Inc., since 2005 to the present. Mr. Cosentino has been a partner of Ironwood Manufacturing Fund, LP, since 2002, a director of Simonds International, Inc., since 2001, the Chairman of the Board of Habco Industries LLC, since 2012, and Senior Advisor of Ironwood Capital Holdings LLC, since 2012.
Flux Power Holdings, Inc. design, develop, manufacture, and sell a portfolio of advanced lithium-ion energy storage solutions for electrification of a range of industrial commercial sectors which include material handling, airport ground support equipment (GSE), and other commercial and industrial applications. The Companyâs modular and scalable design allows different configurations of lithium-ion battery packs to be paired with the Companyâs proprietary wireless battery management system to provide the level of energy storage required. The Company offers energy storage packs for use in a variety of industrial motive applications. The Companyâs has leveraged its Class 3 Walkie Pallet Pack design to develop energy storage packs for larger forklifts, GSE Packs, and other industrial equipment applications. Natural product extensions, based on its modular, scalable designs, include solar backup power for electric vehicle mobile charging stations and robotic warehouse equipment.