More NewsOcean Power Technologies Appoints Brian Posner as CFO

Ocean Power Technologies Appoints Brian Posner as CFO

Ocean Power Technologies (OPT), a developer of wave-energy technology, has appointed Brian Posner as chief financial officer (CFO).

Posner is a financial executive with over 25 years of experience in both public and private companies, with a notable track record in working with capital markets, regulatory and accounting matters and strategic alliances.

Prior to joining OPT, Posner held the position of CFO of Power Medical Interventions, a manufacturer of medical devices with operations in the US, France, Germany and Japan. He played a key role in that company’s restructuring. From 1999 to 2008, Posner held various financial positions at Pharmacopeia, a clinical development biopharmaceutical company, most recently as executive vice president and CFO.

While at Pharmacopeia, Posner provided input and support on financial, operational and strategic issues. These efforts included the reduction in the company’s annual cash burn, raising US$70m in new capital, successful oversight of regulatory matters and financial controls, extensive investor relations out-reach, and the evaluation of the company’s clinical development strategy from a financial and investor perspective. His career has also encompassed working at other early-stage and publicly-held businesses, as well as serving on the audit staff of PriceWaterhouseCoopers (PwC), where he had a diverse group of clients in the manufacturing, banking and natural resources sectors.

Posner is a certified public accountant (CPA), and holds a MBA degree from Pace University and a Bachelors degree in Accounting from Queens College in New York City.

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