Ocean Power Technologies appoints new CFO

Monroe Twp.-based Ocean Power Technologies Inc. on Monday said it appointed Robert P. “Bob” Powers as senior vice president and chief financial officer, effective immediately.

Powers brings more than 25 years of experience in finance and strategy to OPT, most recently as CFO of Constellation Advisors, a private equity-owned provider of outsourced back-office operations and compliance services. He has held financial leadership roles with Sterling Talent Solutions, Wood Group PPS — a division of Wood Group, GTE, SABIC Innovative Plastics and Plug Power. He has also provided financial consulting services to various companies.

Philipp Stratmann, OPT CEO and president, said: “We are thrilled to welcome Bob to OPT, where we expect him to have an immediate impact on our business operations. He brings a broad range of financial experience and a long track record of delivering results and creating value. In particular, his experience at building subscription revenues and overseeing global operations will be important as we execute our growth strategy of market expansion, development of power and data as a service and inorganic growth. On behalf of OPT, we welcome Bob to our team.”

Powers began his career at PricewaterhouseCoopers. He received a Bachelor of Science in accounting from Fordham University and an MBA from Rensselaer Polytechnic Institute, and he is a Certified Public Accountant.