WATERTOWN, Mass. -- (BUSINESS WIRE) -- WiTricity, the industry pioneer in wireless power transfer over distance, today announced that it has named Donald R. Peck as Chief Financial Officer (CFO). Peck, who brings deep experience in both public and private companies, will join the executive management team and lead WiTricity’s finance and accounting operations. Joanne Bryce, WiTricity’s current CFO, will remain with the company in a key consulting role.
This announcement comes at a time of rapid growth for WiTricity, having increased its employee base by more than 30 percent in the past nine months. As the wireless power transfer market continues to expand, WiTricity has demonstrated increased commercial momentum, recently announcing licensing agreements with Intel, Toyota, and TDK. In addition, WiTricity contributes to and supports a number of industry consortiums that are developing standards for wireless power transfer based on magnetic resonance, including the Alliance for Wireless Power (A4WP) in the consumer electronics space, and the Society for Automotive Engineers (SAE), the International Organization for Standardization (ISO), and the International Electrotechnical Commission (IEC) for wireless charging of electric and hybrid electric vehicles.
Peck's unique background with large, publicly-traded companies, combined with his experience working with start-up and hyper-growth organizations, will prove essential to WiTricity as it continues on its commercial trajectory. Having most recently served as EVP, CFO and Treasurer of Lojack Corporation, where he led efforts to increase unit sales by 25 percent and grew market capitalization by 85 percent, Peck has proven skills in managing operations and external relationships in a profitable manner.
"We're excited to welcome Don to the WiTricity management team and we know he will be an asset to the company as we broadly enable wireless power," said Alex Gruzen, WiTricity CEO. "Don’s experience in growth businesses will be invaluable as the market for wireless power expands exponentially in the automotive and consumer electronics industries."
“I've always been attracted to great teams and compelling business models, and WiTricity hits the mark on both fronts,” said Don Peck, incoming CFO at WiTricity. “Having had the opportunity to work with a number of companies experiencing explosive growth, I'm extremely excited to help build on WiTricity’s success and accelerate the adoption of its wireless power transfer technology throughout the world.”
Prior to his role at LoJack, Peck served as Executive Vice President, Chief Financial Officer and Treasurer at Satcon Technology Corporation. He also spent time as Executive Vice President, Chief Financial Officer and Treasurer at Egenera, Inc. and The First Marblehead Corporation. Peck received his J.D. from Cornell Law School and a B.S. from the University of Rhode Island. He is also a Certified Public Accountant.
WiTricity Corporation provides the foundational technology to enable wireless power transfer over distance using magnetic resonance. Through deep domain expertise, a strong IP portfolio and an extensive reference design library, WiTricity works with innovative companies to incorporate WiTricity technology in their products and solutions. With a growing list of global licensees in the consumer electronics, automotive, medical devices and defense industries, the company has emerged as the leader in wireless power transfer over distance. For more information, visit www.witricity.com, or follow WiTricity on Facebook, Twitter, LinkedIn, Google+ and YouTube.