U.S. Geothermal Inc. this week said that it will begin a search for a new CEO to take over for current CEO Dennis Gilles after his current term expires in July.
The company said it will not extend its employment agreement with Gilles, and it is discussing a role for Gilles as an outside adviser to U.S. Geothermal after his term expires.
"It has been an honor to work with the talented employees of U.S. Geothermal these past 4 years. The Company is on a strong growth path as it continues to execute on its available development projects and examine numerous strategic opportunities. I look forward to being an ongoing part in that growth story as an outside advisor to the Company," Gilles said in a statement.
The company said that it has established an executive committee that will perform the search for a new CEO.