US-based ocean energy technology developer Ocean Power Technologies (OPT​) has appointed Philipp Stratmann as its new president and chief executive officer, and a director. 

Stratmann, who previously served as OPT’s vice president of global business development, will replace George H. Kirby, OPT president and CEO since 2015, who is departing the company to pursue other endeavors.

“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,” stated Terence J. Cryan, chairman of OPT.

Stratmann will be relocating from OPT’s Houston office to the New Jersey headquarters.

In addition, the board of directors has promoted Matthew T. Shafer to senior vice president, chief financial officer and treasurer.

“Matt has successfully demonstrated financial leadership during the last 5 years at OPT. Together Philipp and Matt will drive OPT’s continuing growth,” Cryan noted.