American Superconductor announces CFO resignation

WESTBOROUGH, Mass., March 19, 2003 — American Superconductor Corp. announced that Stanley D. Piekos has resigned his position as senior vice president, finance and corporate development and chief financial officer, effective immediately, to pursue other interests. Piekos will provide the company with consulting services for approximately two months.

Piekos, 55, joined AMSC as CFO in 1998. “We appreciate Stan’s hard work and substantial contributions toward our company’s success over the last several years,” said Greg Yurek, AMSC’s chief executive officer.

The company also announced that it has commenced a search to fill the CFO position with an individual who can meet the needs of a growing, technology- and manufacturing-based industrial company. Until the position is filled, AMSC’s chief accounting officer Thomas Rosa, who has been with the company for more than 10 years, will take on the additional role of interim CFO, reporting directly to Yurek.

About American Superconductor Corp.

American Superconductor develops solutions and manufactures products to dramatically improve the cost, efficiency and reliability of systems that generate, deliver and use electric power. The company has a vertically integrated portfolio of products supported by more than 500 patents and licenses. Products from AMSC include High Temperature Superconductor wire for electric power, transportation, medical and industrial processing applications; HTS motors and generators for ship propulsion; and advanced power electronic systems that ensure the quality and reliability of electricity for residential, commercial and industrial customers. More information is available at

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