Capstone Taps New Chief Executive, Ending Long Hunt
John Tucker figures both he and the California energy market are ripe for change.
Recently named president and chief executive of Capstone Turbine Corp., a Chatsworth-based maker of microturbine power systems, he returned to Southern California for a familiar role: developing alternative energy products based on microturbine technology.
Tucker replaces Ake Almgren, who joined the company as chief executive in May 1998 and led it to its public offering. The company had been searching for a replacement for Almgren since he announced his plans to retire last October.
Tucker inherits a company that is trading at just above $1, off nearly 100 percent from its peak of more than $90 in 2000.
He had been president of Torrance-based AlliedSignal Aerospace Equipment Systems' business sector from 1995 to 1997, where he was responsible for developing microturbine products.
"Capstone is clearly the leader in this type of technology and application. My intention is to bring my skill sets that have been developed over a number of years and work diligently to quantify what the opportunities are," said Tucker.
The company targets businesses looking to back up their power sources and reduce dependence on energy companies in marketing its refrigerator-sized microturbines, which debuted commercially in 1998. The microturbine generates power and can also work with a power grid.
Prior to joining Capstone on Aug. 4, he was a partner at White Oak Partners, a private equity firm. He also spent 20 years with AEG-Westinghouse Transportation Systems.
Tucker, 56, is a native of Pittsburgh and has a mechanical engineering degree from Pennsylvania State University. He is married and has three children.
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