Cypress Envirosystems Names Energy Industry Veteran Thomas R. McDaniel to Board of Directors | Cypress Semiconductor
Cypress Envirosystems Names Energy Industry Veteran Thomas R. McDaniel to Board of Directors
Appointment Boosts Presence in Rapidly Growing Utility Smart Grid,
Energy Efficiency and Demand Response Markets
SAN JOSE, Calif., November 9, 2009 – Cypress Envirosystems, a subsidiary of Cypress Semiconductor Corp. (NYSE:CY), today announced that it has appointed electric power industry veteran Thomas R. McDaniel to its board of directors. McDaniel recently retired from Edison International after 37 years of service.
Most recently, McDaniel served as Edison International's executive vice president, chief financial officer and treasurer. He was responsible for the company's financial, risk management, controller, internal audit and IT functions. Edison International is the parent company of Southern California Edison, a regulated electric utility, and Edison Mission Energy, an independent power company which develops, owns and operates renewable energy and fossil fuel generating projects across the United States.
"Tom's extensive knowledge of utility trends and business drivers will help us to increase our business with utilities and energy industry players,” said Harry Sim, CEO of Cypress Envirosystems. “His feet-on-the-ground engineering experience spans power generation, transmission and distribution to customer premises, bringing deep insight into where our technologies can create the greatest value.”
"Cypress Envirosystems’ focus on improving efficiency and enabling demand response at existing facilities is extremely relevant and compelling,” said McDaniel. "We need to have smart buildings and smart plants integrating seamlessly into the evolving utility smart grid system.. Cypress Envirosystems’ leading-edge portfolio of non-invasive, easy-to-install retrofit solutions for HVAC, pneumatics, steam, compressed air and more deliver efficiency improvements with very attractive returns for its customers.”
Prior to January 1, 2005, McDaniel was chairman, CEO and president, and a director of Edison Mission Energy. During this time, the company owned generating plants in the U.S., Europe, Asia, and Puerto Rico.
McDaniel also served as CEO and a director of Edison Capital, a provider of capital and financial services supporting the growth of energy and infrastructure projects, products and services both domestically and abroad. In addition to interests in conventional and renewable power generation and transmission projects in the U.S., Europe, Africa, and Australia, the company invested and sponsored Latin American, Asian and Eastern European infrastructure funds.
McDaniel is actively involved in several philanthropic and charitable organizations. He serves as a director of the Senior Care Action Network (SCAN), a Medicare Advantaged HMO which provides healthcare to senior citizens. McDaniel is also a director of the $200 million SCAN Foundation whose mission is to support initiatives to improve the cost effectiveness and quality of healthcare for the elderly. Through the McDaniel Family Foundation, he works with the Boys and Girls Club of Huntington Beach, the Adult Day Care Center and the Free Wheelchair Mission. He and his family have distributed approximately 2,500 wheelchairs to the poor and disabled in Chile, Cambodia and Vietnam.
About Cypress Envirosystems, Inc.
Cypress Envirosystems is a subsidiary of Cypress Semiconductor (NYSE: CY). Its mission is to save energy and improve productivity in older plants and buildings, using state-of-the-art non-invasive and wireless technologies to minimize disruption and cost, delivering payback of 12 months or less. More information is available at: www.CypressEnvirosystems.com.
Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC® programmable system-on-chip families and derivatives such as PowerPSoC® solutions for high-voltage and LED lighting applications, CapSense® touch sensing and TrueTouch™ solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge® solution that enhances connectivity and performance in multimedia handsets. Cypress is also a leader in high-performance memories and programmable timing devices. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the NYSE under the ticker symbol CY.* Visit Cypress online at www.cypress.com.
* Beginning November 12, Cypress will trade on the NASDAQ under the same ticker symbol.
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Cypress, the Cypress logo, Cypress Envirosystems, the Cypress Envirosystems logo, PSoC, PowerPSoC, CapSense and West Bridge are registered trademarks and TrueTouch is a trademark of Cypress Semiconductor Corp. All other trademarks are property of their owners.