Energy Focus Elects Lighting Industry Luminary Kaj den Daas as Board Member

Rhea-AI Summary

Energy Focus, Inc. (NASDAQ: EFOI) has appointed Mr. Kaj den Daas to its Board of Directors. With over 45 years in the lighting industry, den Daas previously served as Executive VP of Philips Lighting B.V. and has extensive experience in manufacturing and marketing lighting products across North America and Asia. He will also be part of the Audit Committee, which will be chaired by Brian Lagarto. Chairman Steve Socolof expressed enthusiasm about den Daas's appointment, citing his industry expertise. Den Daas aims to contribute to the company's profitable growth.

Positive

• Kaj den Daas brings over 45 years of industry experience, enhancing the Board's expertise.
• His previous leadership at Philips Lighting could strengthen Energy Focus's market position.

Negative

• Transitioning leadership may lead to initial disruptions in company strategy.
• Concerns about continuity and the experience gap due to recent management changes.

SOLON, Ohio--(BUSINESS WIRE)-- Energy Focus, Inc. (NASDAQ: EFOI), a leader in sustainable, energy-efficient LED lighting control systems and products for the commercial, military, maritime and consumer markets, today announced that Mr. Kaj den Daas has been elected to its Board of Directors.

Mr. den Daas has more than 45 years of leadership experience globally in the lighting industry. He retired in 2009 as Executive Vice President of Philips Lighting B.V. of the Netherlands (a manufacturer of lighting fixtures and related components) and Chairman of its North American Lighting Operations. Mr. den Daas was responsible for oversight of the manufacturing, distribution, sales, and marketing of Philips products in the United States, Canada, and Mexico, with prior Philips experience in the Asia Pacific area. Since leaving Philips Lighting, Mr. den Daas has served on the board or management of several companies in the U.S., Europe, and Asia in the lighting industry. He was CEO of Quality Light Source until March 2018 when he transitioned into a non-executive position in the holding company QL Light Source Company Hong Kong Ltd. (manufacturer and marketer of LED lamps) in April 2018. He was also CEO of TCP International Holdings, Ltd. from July 2015 to October 2016.

Mr. den Daas is currently a director on the board of Valmont Industries, Inc., where he serves as the chair of the Audit Committee and a member of both the Nominating and Corporate Governance Committee and Environmental, Social and Governance Committee.

Mr. den Daas will join the Audit Committee of the Board, which will now be chaired by Brian Lagarto following Philip Politziner’s retirement.

Steve Socolof, Chairman, and Interim CEO of Energy Focus commented, “I am extremely excited to be able to recruit such an industry luminary as Kaj den Daas to our Board of Directors. Kaj will join Jeffrey Parker and Brian Lagarto, whose appointments were announced earlier this year, in bringing tremendous industry experience and network to the company. Kaj ran the largest lighting business in North America for years and knows the market as well as the vendors globally. I would also like to thank Phil Politziner for his service as our Audit Chair over the last couple of years. With his retirement, Brian Lagarto will step up to Chair, and Kaj den Daas will join the committee.”

Kaj den Daas commented, “I am honored to join the Energy Focus Board of Directors and I look forward to working with the Board and senior management towards profitable growth for the company.”

About Energy Focus

Energy Focus is an industry-leading innovator of sustainable light-emitting diode (“LED”) lighting and lighting control technologies and solutions, as well as UVC Disinfection (”UVCD”) technologies and solutions. As the creator of the first flicker-free LED lamps, Energy Focus develops high quality LED lighting products and controls that provide extensive energy and maintenance savings, as well as aesthetics, safety, health, and sustainability benefits over conventional lighting. Our EnFocus™ Power Line Control (“PLC”) platform enables existing and new buildings to provide quality, convenient and affordable, dimmable, and color-tunable, circadian, and human-centric lighting capabilities. In addition, our patent pending UVCD technologies and products aim to provide effective, reliable, and affordable UVCD solutions for buildings, facilities, and homes. Energy Focus’ customers include U.S. and U.S. ally navies, U.S. federal, state, and local governments, healthcare, and educational institutions, as well as Fortune 500 companies. Since 2007, Energy Focus has installed approximately 900,000 lighting products across the U.S. Navy fleet, including tubular LEDs, waterline security lights, explosion-proof globes, and berth lights, saving more than five million gallons of fuel and 300,000 man-hours in lighting maintenance annually. Energy Focus is headquartered in Solon, Ohio. For more information, visit our website at www.energyfocus.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005274/en/

Investor Contact:

Energy Focus, Inc. Investor Relations

ir@energyfocus.com

Source: Energy Focus, Inc.

FAQ

Who is Kaj den Daas and what is his role in Energy Focus?

Kaj den Daas has been elected to the Board of Directors of Energy Focus, bringing extensive experience from his prior role at Philips Lighting.

What changes are happening in the Board of Directors at Energy Focus?

With the retirement of Philip Politziner, Kaj den Daas will join the Board and the Audit Committee, now chaired by Brian Lagarto.

What impact might Kaj den Daas's appointment have on Energy Focus?

His industry expertise may contribute to profitable growth and strengthen Energy Focus's market presence.

What is Energy Focus's focus in the lighting industry?

Energy Focus specializes in sustainable LED lighting control systems and solutions for various markets, including military and commercial sectors.