Monrow Township-based Ocean Power Technologies Inc. on June 21 said its board of directors appointed Philipp Stratmann as president, chief executive officer, and a director.
Stratmann had served as OPT’s vice president of global business development since 2019.
The board also elevated Matthew Shafer to senior vice president, chief financial officer and treasurer.
“Philipp is an experienced executive with a proven track record of developing and executing scalable business strategies, as evidenced most recently by OPT’s acquisition of 3dent Technology,” Chairman of the Board Terence Cryan said in a prepared statement. “Philipp’s knowledge of the company, his related industry connections, experience in renewable energy and maritime industries, and his leadership skills will drive OPT’s growth in the off-shore power and data solutions markets. Matt has successfully demonstrated financial leadership during the last five years at OPT. Together Philipp and Matt will drive OPT’s continuing growth.”
Stratmann will relocate from OPT’s Houston office to the New Jersey headquarters. Shafer, a Certified Public Accountant, is already located in New Jersey.